April 30, 2019 / 6:22 AM / 3 months ago

Nordea's sale of Luminor Bank to Blackstone delayed

HELSINKI, April 30 (Reuters) - Nordea said on Tuesday the closing of its deal to sell majority of Luminor Bank, a Baltic joint venture with DNB, to a Blackstone private equity consortium is likely to be delayed into the second half of 2019.

"Blackstone is in the final stages of the pre-filing process and therefore timing of transaction completion will most likely be during the second half of 2019," Nordea said in its quarterly report.

Nordea and DNB agreed to sell a 60 percent stake in Luminor to a Blackstone private equity consortium for 1 billion euros in 2018 and said the deal was expected to close during the first half of 2019. (Reporting by Tarmo Virki, editing by Louise Heave)

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