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Saxo Bank completes acquisition of BinckBank

Danish lender Saxo Bank A/S completed its takeover of BinckBank NV, having acquired 95.14% of the aggregate issued and outstanding share capital of the Amsterdam-based bank.

In a joint statement, the banks said they will now commence their integration process, adding that as part of the acquisition, BinckBank will be delisted from Euronext Amsterdam through a statutory buyout procedure.

The BinckBank shares that have not yet been tendered July 31 can still be tendered until Aug. 14.

Following completion, Saxo Bank said it now serves some 860,000 clients and holds roughly €46 billion in client assets.