Geely acquire Saxo Bank

It's been revealed this week that taxi manufacturer Geely will take control of Denmark's Saxo Bank.

The Danish FSA have approved the take-over of the Copenhagen based company.

Geely will own 51.5% of the bank, whilst Finnish company Sampo will own 19.9% in the $1.56 Billion deal, which was first announced in October  2017.

The deal is expected to take several months to finalise.