Safra Group to acquire a 70% stake in Saxo Bank for €1.1bn.

Safra Group, a Brazilian conglomerate comprising an international network of companies, agreed to acquire a 70% stake in Saxo Bank, a Danish investment bank, for €1.1bn. Established in 1841, J. Safra Sarasin says it intends to integrate Saxo Bank’s digital trading and investment platforms with its own wealth and asset management solutions, enhancing its “international footprint in financial services”.