ayondo Ltd to sell UK subsidiary ayondo markets to BUX Holding


ayondo Ltd to sell UK subsidiary ayondo markets to BUX Holding

Global financial technology and social trading group ayondo Ltd just announced its plans for a possible sale of their UK subsidiary, ayondo markets Ltd to BUX Holding B.V. BUX Financial Services B.V.

The Amsterdam-based FinTech company is a subsidiary of BUX Holding B.V, which already is a tied agent of ayondo markets Limited and its largest customer.

A non-binding Head of Terms document has already been signed between Ayondo Ltd. and BUX in February 2019, allowing both parties to have more detailed discussions. The aforesaid heads of terms is only an expression of intent, which does not create any legally binding nor enforceable obligations for the proposed disposal. Details of the exploratory discussions remain confidential pending formalisaton and execution of a definitive agreement.

The UK financial regulator FCA has been approached to review the proposed transfer of ownership in ayondo markets Ltd and the outcome is still pending.

The proposed sale will also be subject to necessary approvals including regulatory and shareholders’ approvals. Should the transaction be proceeded with and completed, it is intended that BUX and the Company will continue as key partners and BUX will continue its existing support for the Group’s remaining social trading activities.

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ayondo Ltd to sell UK subsidiary ayondo markets to BUX Holding

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