Danish FSA approves Geely’s offer to buy shares in Saxo Bank A/S
In October 2017, Saxo Bank announced that Geely Group offered to buy a majority stake in Saxo Bank, while Sampo Group offered to take up a stake of 19.9 percent of the Bank. As communicated in October, the transactions are pending regulatory approvals. Now Geely has received approval to buy the shares from the Danish FSA. The remaining approvals are expected within the next months.
Founder and CEO, Kim Fournais, commented:
“It is very positive that Geely has received approval from the Danish FSA to take up a majority stake in Saxo Bank. We look forward to receiving the remaining approvals to close the deal. We expect to have the final approvals within the next months.”
When the final approvals are in place, Lars Seier Christensen, TPG Capital and SinarMas will sell 100 percent of their shares to Geely and Sampo. Kim Fournais’ stake of 25.71 percent remains unchanged.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo