Geely Holding Receives Approval to Become Majority Owner of Saxo Bank
Posted: Thu Sep 13, 2018 9:36 am
Saxo Bank, a multi-asset broker, announced today that it has received all of the regulatory approvals to enable China’s Zhejiang Geely Holding Group Co. Ltd (Geely) and Finland’s Sampo plc (Sampo) to acquire shares in Saxo Bank A/S.
Back in October last year, Geely made an offer to buy a majority stake in the Danish multi-asset brokerage. At the same time, Sampo also made a bid to take up a 19.9 per cent stake of the Bank. Until now, both deals were awaiting regulatory approval from 11 separate financial and competition authorities. Earlier this year, read more)