US investment company Blackstone's decision to buy a majority stake in the Baltic bank Luminor shows confidence in the Baltic banking system and may encourage further interest from major private equity funds in investing in the region, the president of the Lithuanian Banks' Association (LBA) said on September 13. Luminor has announced that a consortium led by private equity funds managed by Blackstone is buying a 60 per cent stake in the Baltic bank for 1 billion euros. Luminor’s current owners, Nordea and DNB, will each retain 20 per cent of shares in the Baltic bank and will...
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