Safra Group Acquires Saxo Bank for $1.74 Billion

Safra Group acquires Saxo Bank in a €1.609 billion (USD 1.74 billion) deal, securing control of the Copenhagen-based Retail FX and CFDs broker. This acquisition will grant Safra a controlling interest of around 70% in Saxo Bank, following its purchase of stakes previously held by Geely Group and Mandatum. J. Safra Sarasin Group, a unit of the Safra Group, will acquire Geely Group’s nearly 50% stake in Saxo Bank, alongside Mandatum’s 20% interest. 

While the companies did not disclose the exact financial details of the agreement in their official announcement, regulatory filings from Mandatum indicate that it will receive €319 million for its 19.83% holding. This calculation values Saxo Bank at €1.609 billion. Geely Group will receive approximately €802 million (USD 867 million) for its 49.88% stake. This marks a modest profit for Geely, which originally acquired a 51% interest in Saxo Bank in 2018, valuing the company at roughly €1.325 billion at that time. 

Safra Group Acquires Saxo Bank for $1.74 Billion

The transaction is expected to be finalized before the end of 2025, pending regulatory approvals. The deal requires authorization from Switzerland’s Financial Market Supervisory Authority (FINMA) and Dubai’s Financial Services Authority (DFSA), both of which oversee J. Safra Sarasin Group. Additionally, approval from various financial regulatory bodies across Saxo Bank’s global operations will be necessary to complete the process. 

This acquisition marks a significant development in the financial sector, strengthening Safra Group’s presence in the banking and brokerage industry. Saxo Bank, known for its technology-driven trading solutions and global reach, is expected to benefit from Safra’s extensive financial expertise.

The move aligns with Safra’s strategy of expanding its footprint in key financial markets, reinforcing its position as a major player in the global banking landscape. With the transition expected to conclude smoothly, industry experts anticipate further growth opportunities for Saxo Bank under its new ownership structure.

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