Saxo Bank sells 5% stake for $92m
The cash deal, which sees the group pay $92 million for its stake, fortifies an existing relationship between BESG and Saxo Bank. In January 2007, Banco Best, in which BESG is a majority shareholder, launched Best Trading Pro, a white-label version of trading platform SaxoTrader.
Isabel Ferreira, chief executive of Banco Best in Lisbon, said revenues from Best Trading Pro generated 5% of the bank's income in 2007. Of that, 70% was generated through foreign exchange trading. Ferreira said the main
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