/markets

News and resources on capital markets, exchanges, trade execution and post-trade settlement.

Saxo completes sale of fintech joint venture to Geely Group

Saxo Bank is pleased to announce the successful completion of its transaction involving the sale of Saxo Geely Tech Holding A/S (Saxo Fintech) to Geely Financials Denmark.

  0 Be the first to comment

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

All relevant agreements have been duly signed, formalising the closing of this transaction.

As part of this transaction, Saxo Bank receives its own shares in return - equivalent to approximately 2% of the outstanding Saxo Bank shares.

Following the closing of this this transaction, the ownership structure of Saxo Bank is as follows:

Geely Financials Denmark: 49.88%
Fournais Holding: 28.09%
Sampo/Mandatum: 19.83%
Minority shareholders: 2.20%

The divestment of the Saxo Geely Tech Holding (Saxo Fintech) shares marks the end of Saxo Bank’s ownership of the Chinese Joint Venture, allowing the bank to optimise its business operations and focus on core markets and clients.

Sponsored [Webinar] PREDICT 2025: The Future of AI in the US

Related Company

Channels

Comments: (0)

[Webinar] Global Workforce Payments: Mastering a world of complexityFinextra Promoted[Webinar] Global Workforce Payments: Mastering a world of complexity