Saxo secures major private equity shareholder
TPG Capital, a Texas-based private equity firm that already owns stakes in SunGard and US broker-dealer LPL Financial, is to acquire a 30% stake in Saxo Bank, following a purchase agreement signed yesterday.
The news follows an extensive search for a new shareholder that began at the start of the year, as existing shareholders General Atlantic and Portuguese bank Banco Espirito Santo seek to divest their stakes. General Atlantic invested in Saxo in 2005 and held a 22% stake, while Banco Espirito
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