Saxo Bank Contemplates €2B Sale, Seeks Investment Advisors: Report

Saxo Bank is reportedly contemplating a possible sale
of its business, according to a report by Reuters. This latest development happens after failed merger talks 18 months ago, with sources claiming that
the Danish bank is searching for investment bankers to advise on the possible
options.

Saxo Bank’s sale, valued between 1.5 and 2 billion euros, is deemed substantial in the industry. Although the details of the deal
remain unclear, sources who spoke to Reuters on condition of anonymity said
that the firm is contemplating disposing of either a majority or a minority
stake.

Currently, the Chinese carmaker Geely holds nearly 50%
of Saxo Bank, CEO Kim Fournais owns 28%, while the Finnish insurer Sampo owns nearly
20%. Geely and Saxo Bank are yet to comment on this matter, while Sampo is
reportedly considering offloading its stake to its asset management spin-off
Mandatum.

Saxo Bank’s alliance with a special purpose
acquisition
Acquisition

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term company (SPAC) in 2022 ended due to challenging market conditions.
However, Fournais hinted at future opportunities, leaving the door open to both
public and private transactions.