The Sorainen cross-border team advised Nordea and DNB as Lenders on changes to the funding to Luminor Group in relation to the sale of 60% shares of Luminor Group to a consortium led by private equity funds managed by Blackstone.

According to the Nordea press release, “in addition to the upfront sale and forward sale Nordea will continue to provide funding to Luminor over the medium term, together with transitional services until 2020.”

This follows on from work Sorainen undertook for Nordea in 2017, when the merger of Nordea’s and DNB’s Baltic businesses resulted in the creation of Luminor banking group.

The Sorainen team consisted of senior associates Agnë Sovaitë and Jane Eespõld, associates Kadi Sink and Mârtiòš Rudzîtis, and was led by partners Reimo Hammerberg, Augustas Klezys and Rûdolfs Eòìelis.