Once the transaction is complete, J. Safra Sarasin will hold 100% of the shares in Saxo Holding and, consequently, indirectly also those in Saxo Bank.
Keystone-SDA
The Basel-based private bank J. Safra Sarasin has acquired Saxo Bank, a Danish firm specialising in online investment and trading, in its entirety.
The group that controls the J. Safra Group is acquiring the approximately 29% stake still held by Kim Fournais, co-founder and chair of the board of directors of Saxo Bank.
Once the transaction is complete, J. Safra Sarasin will hold 100% of the shares in Saxo Holding and, consequently, indirectly also those in Saxo Bank, the companies announced in a joint statement today. The transaction will strengthen the bank’s long-term shareholding structure, whilst ensuring continuity for clients, partners and employees.
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Backed by the strength of the J. Safra Sarasin Group, Saxo Bank – which will remain a separate entity, also operating in Switzerland – “will have all the resources necessary to accelerate its growth and development, further strengthening its position amongst the leading players in the online investment sector”, the statement reads.
“Fournais has built an exceptional company, and his entrepreneurial spirit and tireless commitment have made Saxo a global leader in the digital investment sector,” said Jacob J. Safra, chair of the board of directors of J. Safra Sarasin. “We are committed to preserving Saxo’s unique strengths, whilst supporting its next phase of growth.”
“Today’s announcement is fully in line with the vision agreed with J. Safra Sarasin and represents the next natural step in Saxo’s evolution,” said Fournais. “Building Saxo over the last three decades has been the privilege of my professional life, and I look forward to continuing to support its strategic direction,” the executive added.
Translated from Italian/sub-editing gw
