Safra Group Acquired Control of Saxo Bank in €1.609 Billion Deal

The Safra Group has acquired control of Copenhagen-based Retail FX and CFDs broker Saxo Bank. The transaction, valued at approximately €1.609 billion (or USD $1.74 billion), will see the Safra Group take a dominant stake in the company.

Safra Group Acquired Control of Saxo Bank in €1.609 Billion Deal

Also, the deal involves J. Safra Sarasin Group, a unit of the Safra Group, purchasing Geely Group’s nearly 50% stake in Saxo Bank, along with a 20% interest from Mandatum. This will result in the Safra Group obtaining an estimated 70% controlling interest in Saxo Bank. While the financial details of the transaction were not disclosed in the press release, regulatory filings from Mandatum have shed light on the deal’s value. According to these filings, Mandatum will receive €319 million for its 19.83% stake, confirming the overall valuation of Saxo Bank at €1.609 billion.

Geely Group, which had originally acquired a 51% stake in Saxo Bank in 2018 for a valuation of approximately €1.325 billion, will receive €802 million ($867 million) for its 49.88% holding. This marks a small profit for Geely, as it sells its stake at a higher valuation than its initial purchase.

So, the parties involved anticipate that the transaction will be by the end of 2025, pending regulatory approvals from Swiss financial regulator FINMA, Dubai’s DFSA, and other financial authorities that oversee Saxo Bank’s global operations. This acquisition solidifies the Safra Group’s significant presence in the retail financial services industry, bringing the well-established broker under its control.

Company Overview

Saxo Bank stands out as a premier multi-asset broker, offering exceptional research capabilities and an exceptional trading platform, along with an impressive array of over 70,000 tradable instruments, which include spot forex, FX options, NDFs, CFDs, stocks, stock options, exchange-traded funds, ETNs, futures, and 33,000 bonds. For engaged traders, Saxo Bank offers a comprehensive and immersive trading journey, boasting an extensive toolkit, research resources, and premium features.

Discover more in our Complete Review.