U.S. private equity firm Blackstone has lowered its takeover bid for the Dutch bank NIBC by around 25%, after it said the coronavirus pandemic threatened to derail the deal altogether.

NIBC on Monday said Blackstone now offered 7 euros per share, lowering the bank's total value to just over 1 billion euros (890 million pounds) from the 1.36 billion euros previously offered.

Under Blackstone's original proposal, U.S. private equity firm JC Flowers, which holds 60.6% of NIBC's stock, would sell its stake for 8.93 euros per share. Dutch investment firm Reggeborgh, which owns 14.6%, would sell for 9.65 euros per share.

Blackstone in April said the coronavirus outbreak had cast serious doubts on the business plan it had drawn up with NIBC, making it uncertain regulators would approve the deal.

Under the new offer, Blackstone would pay NIBC 46 million euros in damages if it failed to get regulatory approval or if the deal were scrapped for other reasons.

NIBC said JC Flowers and Reggeborgh supported discussions about the lower price, but added it was not certain a deal would be reached.

(Reporting by Bart Meijer; editing by Barbara Lewis)