We are advising Luminor Bank (Luminor), the third-largest provider of financial services in the Baltics, on acquiring 99% of the shares of Maksekeskus (MKK), the leading e-commerce payment service provider in the Baltic region, from Omniva, Inbank, and Olsson & Nielsen Nordic.
Strengthening presence in e-commerce
The acquisition will strengthen Luminor’s presence in the fast-growing e-commerce payments market and allow Maksekeskus to significantly accelerate its roll-out outside of Estonia, in particular leveraging Luminor’s network and customer base in Latvia and Lithuania. Art Lukas will stay on as CEO and will lead MKK in its next phase of growth under Luminor’s ownership.
This transaction, subject to approvals by the Estonian Financial Supervision Authority and the Estonian Competition Authority, is expected to close in the upcoming months.
Maksekeskus provides e-merchants and their customers with secure and convenient payment solutions and e-commerce-related services in Estonia, Latvia, Lithuania, and Finland. The company has delivered significant growth in recent years under the leadership of CEO Art Lukas, and now serves more than 3,000 active merchants in the Baltics. MKK was founded in 2012 by Inbank and Olsson & Nielsen Nordic in Estonia where it is the market leader in e-commerce payment services.
Our services and client team
We are advising Luminor in all stages of the transaction, including support in legal due diligence, negotiating, and preparing transaction documents. We are also advising the client in relation to merger clearance matters.
In Estonia: partner Kätlin Krisak, counsel Piibe Lehtsaar, senior associates Monika Tomberg and Britta Retel, associates Liisa Kuuskmaa, Nele Suurmets and Kristi Tammiku and assistant lawyer Karl Joonas Kendla.
More information – Luminor.