Sasfin Holdings Ltd. said its proposed acquisition of Saxo Capital Markets South Africa from Denmark-based Saxo Bank A/S will come into effect June 1, having fulfilled all the conditions that the deal was subject to.
Sasfin will hold an indirect minority stake in Saxo Capital Markets South Africa, which will soon change its name to SCM DMA (Pty.) Ltd., trading as Direct Market Access. Sasfin, Saxo Bank and SCM DMA will continue to collaborate following the deal, while clients of the newly named entity will maintain their access to the product range and platforms that had been available to them.
Current clients of Saxo Capital Markets South Africa will also see no changes to their existing contracts.
