Saxo Bank, the Danish trading platform, is now the center of potential acquisition talks.
The acquisition has attracted interest from major investors, including
Altor Equity Partners, Centerbridge Partners, and Interactive Brokers Group,
Yahoo Finance reported.
These firms have reportedly submitted preliminary
bids, causing speculation of a significant transaction in the near future.
According to sources familiar with the matter, Altor and Centerbridge have reportedly taken the lead by submitting a non-binding offer for Saxo Bank.
A Multi-Bidder Interest
Interactive Brokers Group is reportedly among those
evaluating the Danish firm for a possible acquisition. Despite the growing
interest, Saxo Bank has not yet committed to any deal, leaving room for further
developments.
In July, Saxo Bank initiated its search for new
ownership, appointing Goldman Sachs as its advisor. The decision to explore a
sale followed a review by its current shareholders: Zhejiang Geely Holding
Group, Finnish financial services provider Mandatum, and founder Kim Fournais.
The goal of this process is a direct sale,
though no final decision has been made. Geely, which holds a nearly 50% stake in Saxo Bank,
acquired its position in 2017 after purchasing shares from co-founder Lars
Seier Christensen in a deal valuing the company at €1.325 billion ($1.4
billion).
Founder Kim Fournais has continued to serve as the
CEO, leading the company through this potential transition. However,
representatives from the involved parties, including Geely, have reportedly not
commented on the progress of the talks, with Geely stating that they will not
comment until the conclusion of any negotiations.
Altor and Centerbridge
Altor, a private equity firm, has emerged as a
significant player in the financial services industry, particularly in Northern
Europe. It already has a substantial stake in Mandatum, Saxo Bank’s Finnish
shareholder. Altor’s growing interest in Saxo is evident from its
investments and partnerships, and its involvement could lead to a broader
restructuring of the firm.
On the other hand, Centerbridge, which has a strong
track record in the financial services sector, particularly in Europe, has
posted high-profile deals like investment in Aareal Bank.
Expect ongoing updates as this story evolves.
Saxo Bank, the Danish trading platform, is now the center of potential acquisition talks.
The acquisition has attracted interest from major investors, including
Altor Equity Partners, Centerbridge Partners, and Interactive Brokers Group,
Yahoo Finance reported.
These firms have reportedly submitted preliminary
bids, causing speculation of a significant transaction in the near future.
According to sources familiar with the matter, Altor and Centerbridge have reportedly taken the lead by submitting a non-binding offer for Saxo Bank.
A Multi-Bidder Interest
Interactive Brokers Group is reportedly among those
evaluating the Danish firm for a possible acquisition. Despite the growing
interest, Saxo Bank has not yet committed to any deal, leaving room for further
developments.
In July, Saxo Bank initiated its search for new
ownership, appointing Goldman Sachs as its advisor. The decision to explore a
sale followed a review by its current shareholders: Zhejiang Geely Holding
Group, Finnish financial services provider Mandatum, and founder Kim Fournais.
The goal of this process is a direct sale,
though no final decision has been made. Geely, which holds a nearly 50% stake in Saxo Bank,
acquired its position in 2017 after purchasing shares from co-founder Lars
Seier Christensen in a deal valuing the company at €1.325 billion ($1.4
billion).
Founder Kim Fournais has continued to serve as the
CEO, leading the company through this potential transition. However,
representatives from the involved parties, including Geely, have reportedly not
commented on the progress of the talks, with Geely stating that they will not
comment until the conclusion of any negotiations.
Altor and Centerbridge
Altor, a private equity firm, has emerged as a
significant player in the financial services industry, particularly in Northern
Europe. It already has a substantial stake in Mandatum, Saxo Bank’s Finnish
shareholder. Altor’s growing interest in Saxo is evident from its
investments and partnerships, and its involvement could lead to a broader
restructuring of the firm.
On the other hand, Centerbridge, which has a strong
track record in the financial services sector, particularly in Europe, has
posted high-profile deals like investment in Aareal Bank.
Expect ongoing updates as this story evolves.
This post is originally published on FINANCEMAGNATES.
