Saxo Bank is reportedly contemplating a possible sale of its business, according to a report by Reuters. This latest development happened 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.

Exploring 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 anonymously 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; the CEO, Kim Fournais owns 28%; and 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 in 2022 ended due to challenging market conditions. However, Fournais hinted at future opportunities, leaving the door open to both public and private transactions.

Geely Group's Acquisition

Last year, Saxo Bank sold its stake in the regulatory technology (RegTech) platform, Saxo Fintech, to Geely Holding Group. This action marked a significant shift in the firm’s ownership structure. Saxo Fintech, previously known as Saxo Geely Tech Holding A/S, was a fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firm jointly owned by Saxo Bank and Geely. It was established in 2019 to offer financial and RegTech solutions in Mainland China.

The decision to divest from Saxo Fintech aimed to optimize business operations and concentrate on core markets and clients. As part of the transaction, Saxo Bank received its own shares, equivalent to approximately 2% of the outstanding Saxo Bank's shares.

The fully regulated and licensed Danish bank mentioned: “As part of this transaction, Saxo Bank will receive its own shares in return, equivalent to approximately 2% of the outstanding Saxo Bank shares.”