Danish bank takes Tricom stake
The future of stockbroking firm Tricom Holdings appears to have been strengthened on the back of a move by Danish investment bank Saxo to take a 35 per cent holding in the company.
Saxo Bank announced today that it had entered into a memorandum of understanding with Tricom, Babcock and Browne and ANZ Group with a view to acquiring the stake.
It said that it was intended that the transaction, when completed, would include an option for Saxo to increase to 100 per cent within three years.
The bank said the proposed transaction would, when completed, reflect an important step for Saxo’s long-term plan to strengthen its position in the Australian and New Zealand markets as well as further enhance its business throughout the Asia Pacific region.
Saxo Bank joint chief executives Kim Fournais and Lars Fseier Christensen said the transaction would build on the strong relationship the bank has had with Tricom.
AUTHOR
Mike Taylor
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