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Payments General

Saxo Bank acquires Dutch discount broker BinckBank

Tuesday 18 December 2018 | 11:50 AM CET

Saxo Bank has agreed to purchase Netherlands-based online discount brokerage company BinckBank on a potential EUR 425 million transaction.

After the weekend passed, the companies now confirm that all of the shares of BinckBank will get acquired by the Danish multi-asset brokerage company Saxo Bank. The value of the offer represented a 35% premium over the closing price. Saxo Bank will be financing the deal with cash in hand and an additional injection of equity from shareholders.

The deal is seen to improve the companies’ geographic footprint, product offerings, and customer bases, covering the full retail client spectrum from mass retail to high-end. Since its creation in 2000, BinckBank has focused on retail online trading for clients in the Netherlands and Belgium. The company also has a strong position in France and Italy.

More: Link
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