UAE’s Asseta Holding purchases UK-based Bux Financial

Netherlands-based Bux Holding, announced the sale of its UK subsidiary, Bux Financial Services Limited (BFS), to Asseta Holding. Asseta Holding is the parent company of APM Capital, a fintech brokerage firm based in the UAE.

BFS, which is licensed by the UK’s Financial Conduct Authority (FCA), is an investment firm that specializes in providing Contracts for Difference (CFDs) and spread betting services to both retail and professional clients.

This sale follows Bux Holding’s previous divestment of its Dutch digital investment business, Bux, to ABN Amro last year for an undisclosed amount. Bux is a mobile app that allows commission-free investing in a variety of companies and operates in several European markets, including the Netherlands, Germany, Spain, Austria, France, Italy, Ireland, and Belgium.

Global expansion for Asseta Holding

Bux Holding stated that the sale of BFS is the next step in its divestment strategy. Yorick Naeff, CEO of Bux Holding, explained, “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 acquisition of BFS by Asseta Holding is a significant move in its global expansion strategy and broadening its investment portfolio. BFS will now operate as a sister company of APM Capital.

Disha Rajdev, co-founder of APM Capital, commented on the acquisition, “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 ( pictured above), stated that the deal “marks a new chapter for BFS” and will help the firm to “elevate our capabilities and market presence”.