BUX Holding has sold its UK business, BUX Financial Services Limited (BFS), to Asseta Holding, the parent company of UAE-based investment firm APM Capital.
BFS is a UK-based investment firm licensed by the Financial Conduct Authority (FCA), providing CFDs and spread betting services to both retail and professional clients. This sale is part of BUX Holding’s divestment strategy, following the earlier sale of its Netherlands operations to ABN Amro.
Yorick Naeff, CEO of BUX Holding, commented, “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.”
The divestment strategy comes after a challenging year for the Dutch firm, which included the abandonment of a potential €100 million buyout by N26, leading to layoffs and the earlier withdrawal of its full-service brokerage from the UK market.
The acquisition of BFS marks a strategic move for Asseta Holding in its international expansion efforts. Disha Rajdev, co-founder of APM Capital, stated, “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. We look forward to working closely with the talented team at BFS to drive growth and deliver exceptional value to our clients.”
Terms of the acquisition were not disclosed.