Announcement - Geely’s divesture of Saxo
Geely Financial Demark, an indirect subsidiary of Geely Sweden Holdings (Geely), has today entered into an agreement to sell all of its shares in the Danish investment and trading service provider, Saxo Bank.
Geely’s divesture of Saxo Bank is in line with Geely Holdings recently announced long-term strategic plans focusing on the Group’s main automotive business. Geely is supportive of the fact that Saxo Bank has found an ideal new long term partner to support them through this transformative period.
The transaction is subject to standard regulatory and other approvals, including from the FINMA and the DFSA.
About Geely Sweden Holding
Geely Holding is a Fortune 500 company, with global headquarters in Hangzhou, China. Geely Holding’s numerous business across the world contains ownership and investments in leading mobility and car brands, as well as in the finance and technology sector. In Europe Geely Holding’s is best known for ownership of Volvo Car Group, Lotus Cars, Lynk & Co, LEVC as well as investments in Volvo Group and Daimler. In Europe Geely Holding is represented by Geely Sweden Holdings, which oversees and manages Geely Holding investments and business development. The offices are conveniently located at Geely’s new corporate campus Uni3 by Geely at the technology and innovation hotspot of Lindholmen in Gothenburg.
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