Acquisitions in Cyprus

Coinbase has acquired BUX’s Cyprus-based unit, BUX Europe Limited, and rebranded it as Coinbase Financial Services Europe. The deal provides Coinbase with a Cyprus Investment Firm (CIF) licence, enabling it to offer contracts for differences (CFDs) and passport services across European Economic Area member states as it expands in Europe amid the Markets in Crypto-Assets Regulation (MiCA) rollout.

Israir Group, via its subsidiary Israir Aviation and Tourism, agreed to acquire an additional 25% stake in Cyprus-based MRO provider Bird Aviation from Bird Aerosystems for €2.75 million, with a planned follow-on purchase of another 12.5% for about €1.375 million. After the second stage, Israir will hold 62.5% and has a put option mechanism that could lead to the purchase of the remaining 12.5% stake from Bird Aerosystems at the same price (plus 3% annual interest adjustment).

Halma has acquired FirePro, a Limassol, Cyprus-headquartered designer and manufacturer of aerosol fire suppression systems, for €150 million on a cash- and debt-free basis. The purchase will be paid in cash and funded from Halma’s existing facilities. FirePro will operate as a standalone company within Halma’s Safety sector and remain led by its current management team.

L1 Health, in partnership with Blantyre Capital, jointly acquired European pharmaceutical companies Remedica and Sun Wave Pharma. The acquisitions occurred through Ascendis Health’s restructuring, in which the senior debt holders exchanged outstanding debt for assets including Remedica and Sun Wave Pharma; the transaction closed on October 21.