Kim Fournais Retains 25% of Saxo Bank Shares after Geely Deal Gets FSA Approval

[kreslik.news]

Saxo Bank has received notification from the Danish FSA about the final approval on part of the regulator of the majority stake purchase by Chinese investor Geely. The company, associated with Chinese billionaire Li Shufu, has announced its CEO Kim Fournais will retain a 25.71 percent stake in the venture.

In October 2017, Saxo Bank announced that following an initial purchase, Geely Group offered to buy a majority stake in the Danish multi-asset brokerage. Finish Sampo Group offered to take up a stake of 19.9 percent of the Bank. At the time, both transactions were pending regulatory ... (read more)