Saxo Payments Banking Circle sold to EQT
The global online cross-border payments services provider, Saxo Payments Banking Circle, has been sold to funds managed by EQT. Plesner has acted as lead legal counsel to management, founders and a group of other investors in all legal aspects of the transaction.
Saxo Payments was initially established as a joint venture between Saxo Bank A/S and a group of founders/investors. Saxo Payments Banking Circle is now being acquired by funds managed by EQT (EQT VIII and EQT Ventures) together with the company's management, founders and other existing investors.
Plesner has acted as lead legal counsel to management, founders and a group of other investors representing more than 50% of the share capital of the company in all legal aspects of the divestment of the company as well as their new investment in the company in partnership with EQT.
Completion of the transaction is subject to approval from financial regulators.