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Danske Bank to sell Estonian private loans unit to LHV in $458 million deal

Published 06/03/2019, 01:49 AM
Updated 06/03/2019, 01:50 AM
© Reuters. A woman walks past Danske Bank's Estonian branch in Tallinn

COPENHAGEN (Reuters) - Danske Bank, which has been embroiled in a major money laundering scandal, has agreed to sell its portfolio of Estonian private loans to LHV Pank in a deal worth 410 million euros ($458.3 million), LHV said on Monday.

Danske Bank said last year it had begun closing parts of its Estonian business which has been at the center of an investigation into alleged money laundering and prompted a U.S. criminal investigation.

(This story corrects currency conversion in paragraph one)

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