Denmark’s Saxo Bank is exploring a possible sale, 18 months after talks to merge with a blank-check company fell apart, four people familiar with the matter told Reuters.
The group, which offers digital trading and investment services, invited investment bankers in recent weeks to pitch for an advisory role to help it consider options, three of the people said, speaking on condition of anonymity.
A deal could value privately held Saxo Bank at around 1.5 billion to 2 billion euros ($1.6 billion to $2.1 billion), two of the people said. A sales process could start later this year, one of the people added.
Chinese carmaker Geely owns close to 50% of the group, with the bank’s CEO Kim Fournais holding 28% and Finnish insurer Sampo almost 20%, according to Saxo Bank’s website.
Saxo terminated a SPAC deal in December 2022. If it had materialized, the merged entity was expected to list on the Euronext Amsterdam. Read more.
