Walder Wyss with J. Safra Sarasin on majority acquisition in Saxo
Walder Wyss advised J. Safra Sarasin Group on its acquisition of approximately 70% of Saxo Bank A/S. The acquisition in question was previously held by Geely Financials Denmark and Mandatum Group.
Pursuant to the deal, Saxo Bank will continue to operate as a standalone entity. Its founder and CEO, Kim Fournais, will retain approximately 28% ownership.
The transaction is subject to standard regulatory and other approvals, including FINMA and DFSA.
The parties
With USD 118 billion in client assets, Saxo Bank is a Danish FinTech bank for investors, traders, and institutional (BaaS) partners. The bank provides an online trading platform connecting investors and traders to global financial markets.
Headquartered in Basel, the J. Safra Sarasin Group is a private bank specialising in wealth and asset management. The group holds USD 247 billion in client assets.
The Walder Wyss team
Walder Wyss advised J. Safra Sarasin Group as lead counsel in the transaction on contractual and regulatory matters.
Partner Patrick W. Vogel (banking and corporate/M&A, pictured) led the firm’s team on the matter, working alongside managing associate Laurent Schmidt (banking and corporate/M&A), senior associate Anaëlle Genoud (banking & finance), associate Dzeneta Hrustic (banking and corporate/M&A), and counsel Gion Giger (antitrust and competition).
