Swissquote Acquires Luxembourg-Based Internaxx Bank

[kreslik.news]

Swissquote, a Switzerland based banking group, announced today that it has acquired Luxembourg-based Internaxx Bank S.A. The acquisition will allow Swissquote to have unrestricted access to the European market.

Swissquote signed the deal with Interactive Investor Limited, an online trading and investment platform which is majority controlled by J.C. Flowers & Co. The agreement will come into effect following regulatory approval.

The agreement is worth EUR 27.7 million and it includes goodwill of approximately 25%. The Swiss banking group is fully financing the purchase with its own funds.

Commenting on the acquisition, CEO Marc Bürki said: “Unrestricted access to ... (read more)