The stake in the brokerage is acquired by a subsidiary of the main vehicle of Chinese billionaire Li Shufu.
Saxo Bank has just announced that one of the company’s founders, Lars Seier Christiansen, has sold off his stake in the Danish Multi-Asset brokerage to a Chinese investor. Chinese billionaire Li Shufu is the chairman and major shareholder of the Hong Kong based subsidiary of none other than private company Zhejiang Geely Holding Group Co.
[gptAdvertisement]
Zhejiang Geely Holding Group Co made rounds worldwide after acquiring Volvo Cars in 2010 and the London Taxi Company. Saxo Bank’s new investor is a 30 year old Fortune 500 company, with revenues for 2016 totaling over $26 billion, while the firm’s total assets were just over $24 billion.
No financial details on the transaction have been provided by the companies involved. According to estimates made by Finance Magnates, the deal is estimated to be worth between $350 and $400 million.
The transaction, that is pending regulatory approval, will be executed via the Hong Kong-based subsidiary of the Chinese company, Geely International Hong Kong.
Lars Seier Christensen received an offer from the Chinese company and agreed to sell his stake of 25.71 per cent. Certain minority shareholders of Saxo Bank are expected to exercise tag-along rights and sell their shares to bring up the total Saxo Bank stake of the of the Chinese company to 30 per cent.
Commenting on the deal, the co-founder and CEO of Saxo Bank, Kim Fournais, said: “Geely Group has shown an impressive ability to foster sharp and solid profitable growth in their portfolio companies, and it has a deep understanding of Scandinavian business values and culture.
Geely is well known for its strong power of Execution, compliance awareness and entrepreneurial spirit. I look forward to taking Saxo Bank to new highs together with our shareholders and employees. I am confident that partnering with Geely creates an even stronger foundation to capitalise on the many global opportunities and not least in the growing Chinese and Asian markets.”
CEO and Executive Vice President of Geely Group Daniel Donghui Li added: “We look forward to partnering with Saxo Bank through this transaction to expand Geely Group’s activities in the financial services sector.”
We expect to deliver group synergies from the development of financial services both within Geely Group and the wider Chinese market,” he explained.
Saxo Bank has just announced that one of the company’s founders, Lars Seier Christiansen, has sold off his stake in the Danish Multi-Asset brokerage to a Chinese investor. Chinese billionaire Li Shufu is the chairman and major shareholder of the Hong Kong based subsidiary of none other than private company Zhejiang Geely Holding Group Co.
[gptAdvertisement]
Zhejiang Geely Holding Group Co made rounds worldwide after acquiring Volvo Cars in 2010 and the London Taxi Company. Saxo Bank’s new investor is a 30 year old Fortune 500 company, with revenues for 2016 totaling over $26 billion, while the firm’s total assets were just over $24 billion.
No financial details on the transaction have been provided by the companies involved. According to estimates made by Finance Magnates, the deal is estimated to be worth between $350 and $400 million.
The transaction, that is pending regulatory approval, will be executed via the Hong Kong-based subsidiary of the Chinese company, Geely International Hong Kong.
Lars Seier Christensen received an offer from the Chinese company and agreed to sell his stake of 25.71 per cent. Certain minority shareholders of Saxo Bank are expected to exercise tag-along rights and sell their shares to bring up the total Saxo Bank stake of the of the Chinese company to 30 per cent.
Commenting on the deal, the co-founder and CEO of Saxo Bank, Kim Fournais, said: “Geely Group has shown an impressive ability to foster sharp and solid profitable growth in their portfolio companies, and it has a deep understanding of Scandinavian business values and culture.
Geely is well known for its strong power of Execution, compliance awareness and entrepreneurial spirit. I look forward to taking Saxo Bank to new highs together with our shareholders and employees. I am confident that partnering with Geely creates an even stronger foundation to capitalise on the many global opportunities and not least in the growing Chinese and Asian markets.”
CEO and Executive Vice President of Geely Group Daniel Donghui Li added: “We look forward to partnering with Saxo Bank through this transaction to expand Geely Group’s activities in the financial services sector.”
We expect to deliver group synergies from the development of financial services both within Geely Group and the wider Chinese market,” he explained.
Retail Traders Trust Finfluencers More than Friends and Family, Study Finds
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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