Consortium of investors comprising funds managed by Blackstone and other long-term institutional investors has closed the deal on the acquisition of a 60% stake in Luminor Bank for EUR1 billion. WALLESS advised Blackstone on the successful closing of the acquisition.

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.

The lead counsel of the deal Allen & Overy entrusted WALLESS Partner Gediminas Reciunas, Managing Partner Dovile Burgiene, Associate Partner Laurynas Narvydas and Associate Enrika Tamasauskaite to assist them on the Lithuanian law issues of this complex deal since its inception and signing through to its closing.