Allen & Overy was lead counsel and Hamilton provided Swedish law advice to Blackstone on its majority stake acquisition in Luminor Bank. Blackstone leads a consortium of investors comprising funds managed by Blackstone and other long-term institutional investors. Current owners of Luminor, Nordea and DNB, will retain a 20% stake each.
Luminor is the third largest bank in the Baltic region and was created in 2017 through the contribution by Nordea and DNB of their respective operations in the Baltics. It has EUR15 billion of assets, including over 8 billion customer deposits, 3,000 employees and 64 branches.