Finance
Safra Sarasin Group to buy majority stake in Saxo Bank
Published by Global Banking & Finance Review®
Posted on March 10, 2025
1 min readLast updated: January 25, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 10, 2025
1 min readLast updated: January 25, 2026
J. Safra Sarasin Group acquires a 70% stake in Saxo Bank for €1.1 billion, with Mandatum and Geely selling their shares.
STOCKHOLM (Reuters) -Swiss private bank J. Safra Sarasin Group has agreed to buy 70% of Denmark's Saxo Bank in a deal valued at around 1.1 billion euro ($1.19 billion), Saxo Bank said on Monday.
Reuters reported last year that the group, which offers digital trading and investment services, was exploring different strategic options including a sale.
In a statement Safra Sarasin said it had agreed to buy Finnish Mandatum's stake of 19.8% as well as the 49.9% stake of Chinese group Geely, while Saxo Bank's CEO Kim Fournais would stay in his role and retain his stake of 28%.
The valuation of all shares in Saxo Bank is about 1.6 billion euros, valuing the 70% stake at about 1.1 billion, Saxo Bank said.
In a separate statement, Mandatum said it had sold its stake for around 319 million euros ($345.92 million).
($1=0.9228 euros)
(Reporting by Anna Ringstrom; Editing by Stine Jacobsen and Clarence Fernandez)
J. Safra Sarasin Group has agreed to buy 70% of Saxo Bank.
The acquisition deal is valued at around 1.1 billion euros ($1.19 billion).
Safra Sarasin is buying Finnish Mandatum's 19.8% stake and Geely's 49.9% stake.
The total valuation of all shares in Saxo Bank is about 1.6 billion euros.
Yes, Saxo Bank's CEO Kim Fournais will stay in his role after the acquisition.
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