The Italian financial institution is in competitors with Orszagos Takarek Penztar (OTP), Hungary’s largest financial institution, Bloomberg information company reported, citing sources.
UniCredit CEO Andrea Orcelis mentioned he intends to make use of shareholders’ capital by buying different banks. He has said that he’s many targets, together with in Central and Japanese Europe, and needs to develop into one of the necessary gamers within the area.
Bloomberg reported in early Could, citing sources, that OTP expressed curiosity in buying Luminor, making a non-binding provide to Blackstone.
In keeping with Bloomberg, Blackstone desires to get a fifth of its guide worth for Luminor.
On the finish of 2023, the guide worth of Luminor reached 1.8 billion. EUR, which signifies that the doable sale value might be EUR 2.1 billion. euros.
Earlier this 12 months, worldwide media reported that Blackstone was making ready to promote Luminor, and the deal might occur this 12 months.
Within the fall of 2017, the mixed Nordea and DNB Financial institution Luminor, which began working within the Baltic States, was unsuccessfully tried to be acquired by the most important Polish financial institution, PKO, which took over Nordea’s enterprise in Poland in 2013.
As of September 2022, Blackstone owns 80 p.c of shares of Luminor Holding. The remaining stake is managed by Norwegian DNB Financial institution via DNB Baltic Make investments, registered in Sweden.
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2024-06-29 04:18:59
