-- 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

January 22, 2024 14:24 ET (19:24 GMT)

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