The Board of Cim Financial Services Ltd (‘Cim’) is pleased to announce that it has reached an agreement with IBL Ltd and Mauritius Eagle Insurance Co Ltd for the acquisition of Mauritius Eagle Leasing Co Ltd (‘MELCO’), a non-bank deposit taking and leasing company.

The acquisition is subject to the approval of the relevant regulators as well as other conditions precedent.

The transaction shall not amount to a notifiable transaction under Chapter 13 of the Listing Rules.

Mr Mark van Beuningen, Group CEO of Cim Financial Services Ltd commented that “the acquisition of MELCO will allow Cim to pursue its development in the financial services sector in Mauritius and will generate synergies with the existing leasing business of Cim Finance. We look forward to welcoming the MELCO employees within the Cim family”.

By order of the Board
Cim Administrators Ltd
Company Secretary

09 June 2018

This communiqué is issued pursuant to Listing Rule 11.3 and Rule 5 of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007.  

The Board of Directors of Cim Financial Services Ltd accepts full responsibility for the accuracy of the information contained in this communiqué.