Blackstone 's entry into the Baltics is a strong vote of confidence on the future development potential of this market
Major news for the Baltic market - world's leading investment fund Blackstone Group L.P is investing EUR 1 billion to acquire a majority stake in Luminor.
The transaction represents the largest majority stake acquisition of a universal bank by PE in the last decade globally and one of the largest M&A transactions ever in the Baltics. Blackstone 's entry into the Baltics is a strong vote of confidence on the future development potential of this market. This strengthens the reputation of the industry, demonstrates long-term ability to operate in accordance with the highest compliance standards, will promote the implementation of highest standards for sustainable investing in the Baltics and in the Single EU market. We expect further deepening of the strategy chosen by Luminor and members of the Finance Latvia Association – that of close co-operation and partnership with start-ups and other innovative financial service providers.