Bux sells UK subsidiary Bux Financial Services Limited to UAE’s Asseta Holding
Netherlands-based Bux Holding has sold its UK subsidiary, Bux Financial Services Limited (BFS), to Asseta Holding, the parent company of APM Capital, a UAE-based financial brokerage firm.
Bux Financial Services Limited has been sold to Asseta Holding
Licensed by the Financial Conduct Authority (FCA) in the UK, BFS is an investment firm which specialises in providing Contracts for Difference (CFDs) and spread betting services to both retail and professional clients.
The sale comes after Bux Holding also sold its Dutch digital investment business, Bux, to ABN Amro last year for an undisclosed sum. Bux enables commission-free investing in a range of companies through a mobile app. It is operational across a number of European markets including the Netherlands, Germany, Spain, Austria, France, Italy, Ireland and Belgium.
The company says the sale of BFS is a “subsequent step in the divestment strategy of Bux Holding”.
Yorick Naeff, CEO of Bux Holding, explains: “We are in the process of divesting all the remaining regulated subsidiaries of Bux Holding.”
“With the sale of the Netherlands, and now the UK-based business, only the Cyprus-based business remains.”
For Asseta Holding, the deal marks a “significant move” in its global expansion push as it looks to broaden its investment portfolio. BFS will now operate as a sister company of APM Capital.
Speaking on the acquisition, Disha Rajdev, co-founder of APM Capital, says: “The UK market is a crucial component of our expansion strategy, and BFS’s strong reputation and client-centric approach align perfectly with our vision.”
Salim Sebbata, CEO of Bux Financial Services Limited, adds that the deal “marks a new chapter for BFS” and will help the firm to “elevate our capabilities and market presence”.
