BUX Announces the Selling of UK Branch

BUX announced today (July 16), confirming the official acquisition of its UK FCA-regulated branch, formerly known as Ayondo Markets Limited, by Asseta Holding, the parent company of UAE-based investment firm APM Capital. This acquisition follows the recent purchase of BUX's Netherlands operations by Dutch banking giant ABN AMRO, which now operates as a neo-broker.

Operating under the brand BUX Markets, BUX UK provides contracts for differences (CFDs) and financial spread betting services to both retail and professional clients. The sale was anticipated as BUX had previously announced its intention to divest its UK business. Prior to the acquisition, BUX Markets had ceased operations to "re-evaluate its product offering."

"We are in the process of divesting all the remaining regulated subsidiaries of BUX Holding," stated Yorick Naeff, CEO of BUX Holding. "With the sale of the Netherlands, and now the UK-based business, only the Cyprus-based business remains." BUX's Cyprus entity, BUX Europe Limited, holds a Cyprus Investment Firm (CIF) license but had also closed its CFDs platform, Stryk, transferring customer accounts to AvaTrade.

Salim Sebbata, CEO of BUX Financial Services, expressed optimism about the acquisition, stating, "This acquisition marks a new chapter for BFS, one that promises growth and delivery of innovative financial solutions to our clients. APM Capital's reach and robust resources will undoubtedly elevate our capabilities and market presence."

Asseta Holding's acquisition of BUX UK is a strategic move to enhance its international presence and diversify its investment portfolio. Disha Rajdev, Co-Founder of APM Capital, emphasized the importance of the UK market in their expansion strategy, saying, "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."

Although the financial details of the acquisition were not disclosed, the strategic importance of this deal is clear. Asseta Holding aims to leverage BUX' reputation and client-centric approach to enhance its global footprint and service offerings.