Dubai-based Eagle Investments acquires Sri Lanka brokerage and asset management firm

Dubai:  Eagle Proprietary Investments, the Dubai-based financial investment arm of National Industries Group (NIG), announced on Tuesday that it has acquired Colombo Stock Exchange stock brokerage firm Heraymila Securities Limited and asset management firm Heraymila Capital (Pvt) Limited.

According to a media statement, the companies are to be rebranded as Candor Equities Limited and Candor Asset Management (Private) Limited.

The strategic acquisition will give Middle Eastern investors greater access to Sri Lankan capital markets and financial advisory services, while bringing international management expertise to a highly respected local firm.

Under the terms of the deal, Eagle Proprietary Investments has acquired four licenses to operate in Sri Lanka, covering equity capital market brokerage, asset management, financial advisory, and outsourcing, the statement said.

“Working alongside the current management team, as well as partners such as New York-based consulting firm Accordion Partners, Eagle Proprietary Investments plans to aggressively grow all four business areas,” it said.

Raj, CEO of Eagle Proprietary Investments has said that Sri Lanka has come within the radar of Foreign Direct Investment inflows as the country’s political situation has normalized markedly in recent years.

“This acquisition will give investors from the GCC and wider Middle East access those markets through a fully integrated and highly qualified service proposition. At the same time, it will offer Sri Lankan companies an expanded range of services to support their businesses, strategies and growth,” Dvivedi was quoted in the statement.

Ravi Abeysuriya, CEO of Candor Equities, has said that Eagle Proprietary Investments and National Industries Group have recognized the immense growth opportunities present in Sri Lanka and its position within the marketplace.

To learn more about Candor Holdings, please visit  www.candor-holdings.com

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Ahmed Mohammed Hassan

DIRECTOR - EAGLE PROPRIETARY INVESTMENTS LIMITED & EAGLE INVESTMENTS LIMITED

Ahmed is a General Manager and Finance Manager with National Industries Group Holding. Ahmed currently serves on several Boards including BI Group (UK), Porclad Group, NIC Building Materials, Kuwait Business Town, Markaz, and Iraq Holding Company. From 1982 – 1998, Ahmed was Financial Manager for NI Group. From 1977– 1979, Ahmed was a Partner and Audit Manager of Adil Al Ghanim & Partners. From 1977 – 1982, Ahmed was Financial Manager with Kuwait Asbestos Industries, a wholly owned subsidiary of NI Group. From 1970 – 1977, Ahmed was Chief Accountant with Kuwait Development and Trading Company. Ahmed holds a BA in Accounting from Shams University, Egypt.