Bank J. Safra Sarasin Acquires Majority Stake in Saxo Bank
Deal News | Mar 11, 2025 | Travers Smith
Travers Smith has provided advisory services to Bank J. Safra Sarasin AG in its acquisition of a 70% stake in Saxo Bank A/S. This strategic move involves purchasing shares from Geely Financials Denmark A/S and Mandatum Group. Saxo Bank, a renowned fintech bank based in Copenhagen, offers diverse online trading and investment services. The transaction highlights Bank J. Safra Sarasin's intent to deepen its influence in the financial technology sector. The acquisition is presently conditional upon obtaining required regulatory approvals. Travers Smith's legal expertise in the deal was complemented by partner involvement from Walder Wyss and Accura.
Sectors
- Financial Services
- Legal Services
Geography
- Denmark – Headquarters of Saxo Bank and involvement of local Danish counsel, Accura, make Denmark a key geographical focus.
- Switzerland – Swiss law firm Walder Wyss' participation and Bank J. Safra Sarasin AG's origin highlight Switzerland's relevance.
Industry
- Financial Services – This sector includes private banking, wealth management, and fintech services, relevant due to Saxo Bank and Bank J. Safra Sarasin's operations.
- Legal Services – This sector pertains to the legal advisory role played by Travers Smith, Walder Wyss, and Accura in the transaction.
Financials
- 70% – The shareholding stake acquired by Bank J. Safra Sarasin in Saxo Bank.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bank J. Safra Sarasin AG | Bidding Company/Buyer | Company | A global leader in private banking and wealth management. |
| Saxo Bank A/S | Target Company | Company | A leading international fintech bank based in Copenhagen. |
| Geely Financials Denmark A/S | Selling Company/Vendor | Company | A subsidiary of Geely Holding involved in the sale of Saxo Bank shares. |
| Mandatum Group | Selling Company/Vendor | Company | Another selling entity involved in the Saxo Bank shares transaction. |
| Travers Smith | Legal Advisor | Company | Provided legal advisory services to Bank J. Safra Sarasin for the acquisition. |
| Walder Wyss | Legal Advisor | Company | Swiss law firm that worked closely with Travers Smith on the transaction. |
| Accura | Legal Advisor | Company | Provided local Danish legal counsel for the transaction. |