On 2 January 2019 Luminor completed its pan-Baltic merger and will continue its operations in all Baltic countries via Luminor Bank AS registered in Estonia and its branches in Latvia and Lithuania.
The cross-border merger agreement was signed on 29 March 2018, and Luminor received the final merger approval from the European Central Bank on 28 June 2018. The cross-border merger, initiated on 1 October 2017, is the final stage of activities that combine DNB´s and Nordea´s Baltic operations.
COBALT advised Luminor throughout the whole merger process, including on reorganizing its management structure, obtaining regulatory approvals from the European Central Bank, and Estonian, Latvian and Lithuanian Financial Supervision Authorities, and will continue to advise the client on post-merger issues.
Legal assistance to Luminor was provided by the following COBALT pan-Baltic team members:
- Partners Kristel Raidla-Talur, Karina Paatsi and Egon Talur, Senior Associates Heleri Tammiste, Heili Haabu, Karli Kütt and Mattias Tammeaid, Associate Mart Blöndal, and Assistant Lawyer Julija Kostomarova in Estonia;
Please find the link to the press release issued by Luminor here.