Copenhagen - The investment bank Saxo Bank, which specialises in online trading and investment, today acquired a third of EuroInvestor.com, which has developed into the leading share and investment portal in Scandinavia since 1997.
Saxo Bank continues to expand and has acquired a third of EuroInvestor.com. The partnership between Saxo Bank and EuroInvestor.com will create synergies between EuroInvestor’s share and investment portal and Saxo Bank’s award-winning trading platform, SaxoTrader.
“We have followed EuroInvestor since Søren and Jens Alminde launched Denmark’s first stock market service back in 1997. EuroInvestor’s services match our clients’ service demand. In return, Saxo Bank’s experience in online investment can help EuroInvestor further develop their services. Therefore, Saxo Bank has acquired a third of EuroInvestor”, says Kim Fournais, co-founder and Managing Director of Saxo Bank.
Brothers Søren and Jens Alminde are the principal shareholders of EuroInvestor with a total holding of 52.5%. Therefore, Saxo Bank is not obliged to offer to buy shares from the other shareholders of EuroInvestor. Saxo Bank intends, however, to offer the minority shareholders, i.e. all shareholders apart from the Alminde brothers, to sell their shares to Saxo Bank at a price of DKK 7, the price Saxo Bank is paying for the third of the shares acquired today.
EuroInvestor has more than 500,000 visitors a month and over 4,500 plus members who use the portal to make better investments. Its major success in Denmark caused EuroInvestor to launch portals in other countries in February 2004. The proportion of users in these countries has been on the rise ever since.
“Being the leading financial medium on the web comes with obligations. We have always aimed to ensure that visitors to EuroInvestor have a good experience and find the information they seek. Saxo Bank shows today that they believe in our business model and vision, and we are proud of this. We are convinced that the partnership will create more opportunities and better service at EuroInvestor, and also accelerate our ongoing internationalisation”, says Søren Alminde, co-founder and Managing Director of EuroInvestor.
Shareholders who want to sell their shares in EuroInvestor.com to Saxo Bank at a price of DKK 7 are asked to send an email to firstname.lastname@example.org . Please indicate contact details and the number of shares you wish to sell in the email. Saxo Bank will then get back to you with the practical details. It is possible to sell shares until 27 February 2009. Shareholders whose shares are registered in their names will receive a separate message from EuroInvestor.com on this option to sell shares to Saxo Bank at a price of DKK 7 per share.
The investment in EuroInvestor.com follows Saxo Bank’s acquisition of the Danish stockbroker and wealth management company Sirius in January. Sirius specialises in Private Wealth Management for wealthy private clients, enterprises, institutions and institutional clients.