The Danish Saxo Bank has been up for sale for some time. Will Bank J. Safra Sarasin now take over?
Bank J. Safra Sarasin is said to be sounding out a takeover of the Danish Saxo Bank. The Swiss bank has held talks with Saxo about this, Bloomberg reported at the beginning of the week.
Other interested parties had withdrawn from the bidding process after no agreement could be reached. Representatives of J. Safra Sarasin and Saxo Bank declined to comment.
On Offer Since July
In July, Saxo Bank announced that it had commissioned Goldman Sachs Group to find interested parties. The company's main shareholders include Geely Holding Group – with almost 50 percent – the Finnish Mandatum Oyj and founder Kim Fournais. According to an earlier report by Bloomberg, Interactive Brokers Group and a consortium of Altor Equity Partners and Centerbridge Partners were among the suitors that originally showed interest in Saxo.
Founded in 1992, Saxo had around 109 billion euros in client assets on its trading platform at the end of June last year.
