US investment group Blackstone has on Monday acquired 60 percent majority stake of Luminor bank for €1bn. The bank headquartered in Tallinn, Estonia, also operates branches in Latvia and Lithuania.
The current shareholders Nordea and DNB will retain 20 percent stake each, however, Blackstone Group is planning to buy Nordea’s share in the future.
Blackstone Group is one of the world’s largest investment firms, and as of 2019, managed assets worth approximately 545 billion US dollars.
