J. Safra Sarasin Group agrees acquisition of remaining stake in Saxo Bank

Bank J. Safra Sarasin has agreed to acquire the remaining 28.69 per cent stake in Saxo Holding AG, which is held indirectly by Saxo Bank founder and chair, Kim Fournais.

The agreement was made after J. Safra Sarasin exercised a call option in the shareholders agreement entered between the parties.

The private banking and wealth management firm previously acquired a majority stake of around 71 per cent in Saxo Bank earlier this year.

Following the closing of the transaction for the remaining shares, which is subject to regulatory approvals, Saxo Bank will continue to operate as a separate entity and Fournais will remain as chair of the Saxo Bank Board of Directors.

The terms of the transaction will remain confidential, J. Safra Sarasin noted.

Upon completion of the deal, J. Safra Sarasin will own 100 per cent of Saxo Holding AG and, indirectly, of Saxo Bank.

J. Safra Sarasin said, with its backing, Saxo Bank will have the resources required to accelerate its growth and development.

“Kim Fournais has built an exceptional business, and his entrepreneurial spirit and relentless commitment have made Saxo a global leader in digital investing,” commented J. Safra Sarasin Group chair, Jacob J. Safra.

“This milestone reflects our long-term perspective, and we are committed to preserving Saxo's unique strengths while supporting its next phase of sustainable growth.”

Fournais added: “Today's announcement is fully aligned with the vision agreed with J. Safra Sarasin and represents the next natural step in Saxo's evolution.

“Building Saxo over the past three decades has been the privilege of my professional life, and I look forward to continuing to support its strategic direction.”

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