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Payments General

Saxo Bank completes acquisition of BinckBank

Monday 12 August 2019 | 11:58 AM CET

Saxo Bank has completed the acquisition of BinckBank - they will start working on integration of the two companies to share technology infrastructure and add additional products and services.

As of the settlement, which has taken place today, Saxo Bank holds shares representing approximately 95.14% of the aggregate issued and outstanding share capital of BinckBank on a fully diluted basis.

The BinckBank shares which were not yet tendered on 31 July 2019 can be tendered during the post-closing acceptance period, which started on 1 August 2019 and will end at 17:40 (CET) on 14 August 2019.

Both banks intend to procure the delisting of the BinckBank shares on Euronext Amsterdam as soon as possible. Saxo Bank intends to initiate the statutory buy-out procedure in an expeditious manner. Reference is made to the joint press release dated 31 July 2019 as published by BinckBank and Saxo Bank.

As of settlement, the changes to the composition of the supervisory board of BinckBank, as approved by the general meeting of BinckBank on 23 April 2019, have become effective.

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