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HomeBankingBux sells UK subsidiary Bux Financial Services Limited to UAE’s Asseta Holding

Bux sells UK subsidiary Bux Financial Services Limited to UAE’s Asseta Holding

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Summary of Bux Holding’s Sale of Bux Financial Services Limited (BFS)

  • Entities Involved:
    • Seller: Bux Holding (Netherlands-based).
    • Buyer: Asseta Holding (Parent company of APM Capital, UAE-based).
    • Subsidiary Sold: Bux Financial Services Limited (BFS).
  • BFS Profile:
    • UK-based investment firm.
    • Licensed by the Financial Conduct Authority (FCA).
    • Specializes in Contracts for Difference (CFDs) and spread betting services.
    • Serves both retail and professional clients.
  • Context and Background:
    • Bux Holding previously sold its Dutch digital investment business, Bux, to ABN Amro.
    • Bux provides commission-free investing through a mobile app.
    • Operational in various European markets (Netherlands, Germany, Spain, Austria, France, Italy, Ireland, Belgium).
  • Strategic Move:
    • Part of Bux Holding’s divestment strategy.
    • CEO Yorick Naeff states intention to divest all remaining regulated subsidiaries.
    • After UK and Netherlands sales, only Cyprus-based business remains.
  • Buyer’s Perspective:
    • Acquisition is a significant move for Asseta Holding’s global expansion.
    • BFS will operate as a sister company to APM Capital.
    • Co-founder Disha Rajdev highlights UK market’s importance and BFS’s alignment with their vision.
  • Future of BFS:
    • Salim Sebbata, CEO of BFS, notes the acquisition marks a new chapter.
    • The deal is expected to elevate BFS’s capabilities and market presence.

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