Danish challenger bank Lunar to acquire Norway’s Instabank

Danish challenger bank Lunar is acquiring the Norwegian digital bank Instabank in a €136m deal.

Instabank directors have “unanimously” recommended the offer of 3.75NOK a share, which is a 56.3 per cent premium on Instabank’s closing share price on March 25.

The purchase will boost Lunar’s presence in Norway, as well as opening the door to the Finnish market, as Lunar looks to have a wide-ranging presence across Scandanavia.

Read more: AltFi