US investment company Blackstone plans to sell Baltic-based Luminor Bank, according to Bloomberg, LETA reports. Blackstone expects to sell the bank for around EUR 1.9bn and to conclude the deal in 2024. Peter Priisalm, head of Avaron Investments, suggested that one potential buyer could be Polish insurance group PZU, while Valeria Kiisk, partner at Redgate Capital, expected the buyer to be a major bank from western or central Europe, ERR reported. Luminor Bank is registered in Estonia, with branch offices in Latvia and Lithuania. Blackstone currently owns 80.05% and Norway’s DNB the remaining 19.95% of Luminor Bank’s shares.
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