This month members had an exclusive opportunity to visit Luminor for monthly Business After Hours and be first to hear more on bank`s recently announced corporate partnership with private equity fund Blackstone Group. The event took place at Luminor's premises Skanstes 12.

The U.S. based investment fund Blackstone Group announced of investing EUR 1 billion to acquire the majority stake in Luminor. This is the largest private equity transaction in the last decade globally and one of the largest ever made in the Baltics. As a result of the deal, Blackstone will acquire 60% of stakes, while Nordea and DNB will hold 20% each. The transaction is expected to close in the first half of 2019.

AmCham members had the chance to hear first-hand from its CEO in Latvia, Kerli Gabrilovica, what is the future strategy of Luminor.  

In addition, Economist Peteris Strautins shared insights in economic trends and investment prospects. His presentation is available here: Economic overview and investment trends

The special guest of the event was Nils Melngailis, Chairman of the Board of Luminor Group AB who gave a short presentation on how transaction with private equity fund Blackstone Group will influence the economic outlook for the Baltics.

The event was complemented by the traditional raffle, great networking and delicious food and wine.