Eagle Proprietary Investments acquires Sri Lanka brokerage
Acquisition to give Middle Eastern investors improved access to Sri Lankan capital markets
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.
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 licences to operate in Sri Lanka, covering equity capital market brokerage, asset management, financial advisory, and outsourcing.
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.
