PORT LOUIS, Mauritius, March 14, 2017 (GLOBE NEWSWIRE) -- MCB Capital Markets (www.MCBCapitalMarkets.mu), the investment banking arm of MCB Group (www.MCBgroup.com), is acting as Transaction Advisor to SGG Group (‘SGG’), on the acquisition of Cim Global Business (‘CGB’), one of the leading Mauritius-based providers of fund and corporate administration services to corporates and alternative asset managers with assets under administration in excess of USD 150 billion.
Established in 1953, and headquartered in Luxembourg, SGG is a leading independent investor services provider with more than 550 professionals. Through this strategic acquisition, SGG will establish a strong presence in the African and South-East Asian markets which have experienced significant growth recently. The transaction is expected to complete in Q2 2017 and is subject to regulatory and shareholder approval.
Serge Krancenblum, Chief executive Officer, SGG, commented, “MCB Capital Markets team accompanied us all the way since the beginning of this transaction. They displayed sound M&A experience, thorough understanding of the offshore management sector in Mauritius and above all, strong determination to see the deal through. We enjoyed working with them and take the opportunity to thank them for their contribution in this successful execution.”
Rony Lam, Chief Executive Officer of MCB Capital Markets, stated, “We are proud to be acting as Transaction Advisor to SGG on its latest acquisition. This is the second major cross-border M&A transaction in the Mauritian offshore management sector announced by MCB Capital Markets in less than four months. We are grateful to our clients for their trust and assure them of our team's unwavering commitment to helping them achieve their objectives.”
Distributed by APO on behalf of The Mauritius Commercial Bank Ltd (MCB).
About SGG Group:
SGG Group is a European leader in investor services which include administrative and accounting solutions for investment funds, multinational corporations and family offices. The Company has over 550 employees and offers a comprehensive range of value-added services to customers across more than 20 countries. SGG Group focuses on working closely with its clients and delivering high quality of service which has allowed the company to achieve leading positions in a number of key markets in which it operates.
For more information on SGG Group, please visit: www.SGGgroup.com.
About Cim Global Business:
CGB is one of the leading fund administrators and corporate service providers in Mauritius with offices in Mauritius, Singapore and South Africa. With over 20 years of experience in fund, corporate and trust administration, the company administers in excess of US$150 billion of assets. CGB forms part of Cim Group, the largest private sector, non-bank financial services group in Mauritius whose parent company, Cim Financial Services Ltd, is listed on the Stock Exchange of Mauritius.
For more information on CIM Group, please visit www.CimGlobalBusiness.com.
About MCB Capital Markets:
MCB Capital Markets is the investment banking arm of MCB Group, the largest banking group in Mauritius. The company provides a broad range of services under one roof, including corporate finance advice, asset management, stockbroking, private equity, structured products and registrar. Based in Mauritius, the team works with clients wishing to start or grow their operations in Africa and helps them develop solutions that meet their financing, strategic and investment objectives.
Contact: Ryan Coopamah Head of Communication Communication SBU Direct line: +230 202 5439 E-mail: Ryan.Coopamah@MCB.mu
Source:Mauritius Commercial Bank