Cobalt has advised Nordea on the sale of its last remaining 11.6% stake in Luminor to a consortium led by private equity funds managed by Blackstone.
Luminor is the third largest provider of financial services in the Baltics. Nordea is a Nordic universal bank
According to Cobalt, as a result of the transaction, “Blackstone now owns 80.05% of Luminor, and DNB will continue to own the remaining 19.95%. Nordea’s gradual exit from Luminor over the years was agreed between Blackstone and Nordea in 2018 when Blackstone agreed to acquire its initial 60.1% shareholding in Luminor.”
Cobalt’s team included Partner Kristel Raidla-Talur and Senior Associate Heleri Tammiste.
Cobalt did not respond to our inquiry on the matter.
