Mandatum sells its holdings at Saxo Bank

Asset management company Mandatum sells its ownership in Danish At Saxo Bank. Mandatum has had less than 20 % of Saxon’s shares and sells them for about EUR 319 million to the Swiss Bank J. Safra Sarasinille.

Chairman of the Board of Mandatum Patrick stated in the release that the deal is part of Mandatum’s goal of abandoning holdings that are not strategic to the company.

“The ownership of Saxo Bank has been the largest and most important of these. Mandatum will continue to focus on creating profitable growth in business-binding businesses such as institutional and private asset management, ”Lapveteläinen said.

Saxo Bank’s shares were owned by Mandatum in October 2023, when it was removed as a separate company from Sammo. The transaction still requires authority approval, but is expected to materialize by the end of this year.