International law firm Bird & Bird has advised OTP Bank on its acquisition of 100% of the shares in Luminor Holding AS, the parent company of Luminor Bank AS, from a consortium of private equity funds managed by Blackstone and from DNB Bank ASA.
Luminor is one of the leading banking institutions in the Baltic region, operating in Estonia, Latvia and Lithuania and serving both retail and corporate clients across a broad range of financial services.
International law firm Bird & Bird has advised OTP Bank on its acquisition of 100% of the shares in Luminor Holding AS, the parent company of Luminor Bank AS, from a consortium of private equity funds managed by Blackstone and from DNB Bank ASA.
Luminor is one of the leading banking institutions in the Baltic region, operating in Estonia, Latvia and Lithuania and serving both retail and corporate clients across a broad range of financial services.
The transaction is the largest acquisition in OTP Bank’s history and a landmark deal for Bird & Bird Budapest, ranking among the largest transactions the office has advised on. It further strengthens OTP Bank’s position as one of the leading banking groups in Central and Eastern Europe and underscores its ambitious growth strategy across the region. Completion is subject to the necessary regulatory approvals.
Pál Szabó, Co-Head of Country and Head of the Corporate/M&A practice in Hungary at Bird & Bird, comments: “We are delighted to have supported OTP Bank on this landmark transaction, which marks a significant step in its continued expansion across the Baltic region. Luminor is a highly regarded institution in Estonia, Latvia and Lithuania, and this acquisition further cements OTP Bank’s position among the leading banking groups in Central and Eastern Europe. It was a privilege to work alongside OTP Bank’s dedicated and professional team on a transaction of this scale and complexity.”
Bird & Bird’s core team consisted of Pál Szabó (Partner, Corporate/M&A), Jonathan Angell (Partner, Corporate/M&A, London), Dániel Arányi (Partner, Competition/Regulatory), Barnabás Simon (Counsel, Corporate/M&A),Gábor Kutai (Senior Associate, Competition) and Eszter Lux (Junior Associate, Corporate/M&A).
The team was supported by WALLESS as local counsel in Estonia, Latvia and Lithuania.
