UniCredit Bids for Blackstone-Owned Estonian Bank Luminor, Bloomberg Reports
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Dow Jones
--Italian lender UniCredit has put forward a bid to buy Baltic bank Luminor, Bloomberg reports, citing unnamed sources.
--Blackstone started a sales process for Luminor earlier this year and Hungary's OTP Bank put forward an offer for the lender last month, Bloomberg reports.
--Private funds managed by Blackstone own around 80% of Luminor--which operates in Estonia, Lithuania and Latvia--while Norway's DNB Bank owns the remaining 20%.
--Luminor, UniCredit, OTP Bank and Blackstone didn't immediately respond to requests for comment from Dow Jones Newswires.
Full story: https://tinyurl.com/426w6yk4
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
June 26, 2024 04:37 ET (08:37 GMT)
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