Nordea and DNB have divested 60 per cent of the Baltic bank Luminor to a consortium led by private equity funds managed by Blackstone. As a result of the transaction, each of Nordea and DNB holds approximately 20 per cent of Luminor. Nordea and Blackstone have moreover, entered into a forward sale agreement for the sale of Nordea's remaining stake. Gernandt & Danielsson also represented Nordea and DNB in relation to the financing that Nordea and DNB provides to Luminor.

Gernandt & Danielsson advised Nordea and DNB together with the Norwegian law firm BAHR and Gernandt & Danielsson's team consisted of Partners Mats Hugoson (M&A), Björn Svensson (financing) and Nils Unckel (regulatory), Counsel Andreas Ek (M&A), Senior Associates Mikael Bolling (financing) and Fredrik Haräng (M&A), as well as Associate Jonathan Antonsson (M&A).