Saxo Bank sells Privatbank to Alm for USD $60 million @ Forex Factory

Saxo Bank sells Privatbank to Alm for USD $60 million @ Forex Factory


From leaprate.com

Copenhagen based Saxo Bank’s new ownership group is moving rapidly to reshape the company, with the latest move being a just-announced sale of one of its major units for USD $60 million, alongside a new partnership with the buyer.

Saxo Bank announced this morning the sale of subsidiary Saxo Privatbank, a fully licensed retail bank with branches across Denmark, to Alm. Brand, a Danish financial services group operating within non-life insurance, banking and life and pension insurance.

The deal is expected to close on April 1, subject to approval by the Danish Financial Supervisory Authority and the Danish Competition and Consumer … (full story)



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