Safra Group Acquires Controlling Stake in Saxo Bank for €1.609 Billion

Safra Group acquires controlling 70% stake in Saxo Bank for €1.609 billion, expanding its global financial market presence.

Key Points:

• Safra Group acquires a 70% controlling stake in Saxo Bank for €1.609 billion, expanding its financial market presence.
• The deal includes purchasing stakes from Geely Group and Mandatum, with completion expected by the end of 2025.

The Safra Group has announced its acquisition of a controlling stake in Copenhagen-based Retail FX and CFDs broker Saxo Bank in a deal valuing the company at approximately €1.609 billion (USD 1.74 billion).

Safra Group Acquires Controlling Stake in Saxo Bank for €1.609 Billion

The transaction will see the J. Safra Sarasin Group, a unit of the Safra Group, purchase Geely Group’s nearly 50% stake in Saxo Bank, along with Mandatum’s 20% interest. Furthermore, this acquisition grants Safra Group an estimated 70% controlling stake in the company, positioning it as the dominant shareholder in the renowned online trading and investment bank.

Mandatum’s regulatory filings indicate that it will receive €319 million for its 19.83% stake, although the official press release did not disclose the financial details of the transaction. Based on this, a simple valuation calculation confirms the overall worth of Saxo Bank at €1.609 billion.

Additionally, Geely Group, which originally acquired a 51% stake in Saxo Bank in 2018 at an approximate valuation of €1.325 billion, will sell its 49.88% interest for €802 million ($867 million), marking a modest profit on its initial investment.

The deal remains subject to regulatory approvals from Switzerland’s Financial Market Supervisory Authority (FINMA) and Dubai’s Financial Services Authority (DFSA), which oversee the J. Safra Sarasin Group. Financial regulators in the various jurisdictions where Saxo Bank operates must also grant additional approvals. The parties expect to close the transaction before the end of 2025.

This acquisition marks a significant shift for Saxo Bank, which has been under the partial ownership of Geely Group for nearly seven years. Safra Group’s backing enables Saxo Bank to strengthen its global presence and expand its offerings in online trading and investment banking.

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