-- Blackstone is in talks with potential advisers for a sale of its Tallinn, Estonia-based bank Luminor, Bloomberg reports, citing people familiar with the matter.

-- The sale could take place later in the year, the people said, according to the report.

-- Bloomberg reports that the private equity company is aiming for a valuation of 1.2 times the book value of the business for a potential sale.

-- Luminor had a book value of 1.6 billion euros (equivalent of about $1.74 billion) in 2022, Bloomberg reports.


Full article at https://news.bloomberglaw.com/banking-law/blackstone-is-said-to-prepare-baltic-bank-luminor-for-a-sale


Write to Zaeem Shoaib at zaeem.shoaib@wsj.com


(END) Dow Jones Newswires

01-22-24 1424ET