The owners of Saxo Bank are planning to sell around a 33% stake in the bank to a U.S. private equity fund, Bloomberg reports, citing Borsen. The sellers will get a total of $960 million from the sale. General Atlantic will sell its 22% stake and Espirito Santo Financial Group will sell its 9.9% stake in the bank. Some employees will also sell their minor stakes, while Saxo founders, Kim Fournais and Lars Seier, are not selling their stakes. JPMorgan Chase and SEB have been appointed to sell the shares.
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