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Zhejiang Geely to Sell ~50% Stake in Denmark's Saxo Bank
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Swiss private bank, J. Safra Sarasin, agreed to buy 70% stake in Denmark's Saxo Bank for EUR1.1 billion (US$1.19 billion), valuing the latter at EUR1.6 billion. Finnish insurer Mandatum/ Zhejiang Geely will sell their 19.8%/ 49.9% stakes in Saxo Bank respectively. Saxo Bank's CEO, Kim Fournais, will retain his 28% stake and remain in his current position. AAStocks Financial News |
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