Saxo Bank receives strategic investments from Geely and Sampo

Saxo Bank, a multi-asset trading and investing platform, has received strategic investments from Geely Holding Group and Sampo.

This new investment values the company at €1.325bn; however, the value of the deal were not disclosed.

The investment comes after the necessary regulatory approvals have been received to enable the firms to buy shares in Saxo. These offers were initially made last year, with China-based Geely looking to purchase a majority stake and Nordic-based Sampo aiming to acquire a 19.9 per cent share.

Following the close of the deal, TPG Capital, Lars Seier Christensen and SinarMas will sell this stakes in the company which represent 29.26, 25.71 and 9.9 per cent, respectively. A number of minority shareholders also sold their shares to Geely and Sampo which now hold 52 and 19.9 per cent, respectively.

Saxo Bank CEO and founder Kim Fournais will retain a 25.71 per cent stake in the company.

In line with the new strategic investments, Geely vice chairman Daniel Donghui Li has been made the chairman of Saxo.

Kim Fournais said, “With Geely as a shareholder, we will benefit from a strong position in growth markets in the Asia region, with Greater China at its core.  At the same time Sampo, as the leading blue-chip investor in the Nordic financial industry, further strengthens our Nordic foundation.”

The company is planning to announce potential new areas of cooperation and partnerships to support expansion, in the future.

Saxo Bank is a regulated bank which provides direct clients with access to multi-asset trading and investing. The company also offers banks and brokers with multi-asset execution, prime brokerage services and trading technology.

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