Cim Financial Services Limited (*‘CFSL’) has entered into an agreement for the sale of its Global Business activities to the SGG Group. The transaction is expected to complete in Q2 2017 and is subject to regulatory and shareholder approval.
SGG Group is a European leader in investor services which include administrative and accounting solutions for investment funds, multinational corporations and family offices, from a network of offices in over 20 countries. The potential acquisition of Cim Global Business by SGG is an exciting opportunity, both for its colleagues, and prestigious clients, who will be able to leverage the additional products and services offered by a larger, specialised multinational group.
The transaction is a vote of confidence not only in the quality of services offered by Cim Global Business but also in Mauritius itself as a regional financial centre of growing importance.
Graham Sheward, Managing Director of Cim Global Business, said "We are pleased to be joining forces with such a renowned international group. We look forward to bringing our expertise and platforms together with the SGG Group and to combining our existing range of services, outstanding teams and geographical footprint. In partnership with SGG, Cim Global Business will be able to expand its servicing capabilities, allowing us to better serve our growing base of clients and further develop our focus on fund administration and servicing corporates and investors in the exciting African and Asian markets.”
Serge Krancenblum, SGG’s Group CEO continued, "We are very excited to find in Cim Global Business a team of professionals that are highly praised by their clients and the market for their level of expertise across a broad range of services. We add to our group impressive platforms in Mauritius, Singapore and South Africa that will further strengthen our servicing capacities and reinforce the focus on fund administration. Cim Global Business management team share our growth ambitions and are equally passionate about supporting the needs of our clients."
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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
Cim Global Business is a leading provider of corporate, trust and fund administration services with offices in Mauritius, South Africa and Singapore. The Company provides corporate, fund administration, trust and fiduciary services as well as professional services outsourcing solutions to institutional investors, asset managers, private equity fund managers, development financial institutions, sovereign wealth funds, banks, hedge funds and high net worth individuals.
For more information on Cim Global Business, please visit: www.cimglobalbusiness.com