Alm. Brand to acquire Saxo Privatbank07.02.2018
Alm. Brand Bank, a subsidiary of the financial service group Alm. Brand, has announced its DKK 360 million acquisition of the majority of the activities of Saxo Privatbank.
With the acquisition, Alm. Brand Bank significantly strengthens its market position, adding the customer portfolio and wealth management of Saxo Privatbank, including Saxo Privatbank’s 110 employees, to its existing banking activities.
The acquisition is subject to approval by the Danish Financial Supervisory Authority and the Danish Competition and Consumer Authority.
Bruun & Hjejle acted as legal adviser to Alm. Brand Bank and the Alm. Brand group. The transaction underlines Bruun & Hjejle’s focus on the financial sector.