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