Luxembourg-based fund administrator SGG Group is set to gain market share in Africa and South-East Asia with the acquisition of a Mauritius firm.
SGG is buying Cim Global Business, which has 250 people and provides corporate, trust and fund administration services from offices in Mauritius, South Africa and Singapore.
The transaction is expected to complete in the second quarter and is subject to regulatory and shareholder approval. A figure for the deal was not given.
According to SGG, Cim Global Business provides fund administration and other services to a range of client types, including institutional investors, asset managers, and private equity fund managers.
SGG, whose CEO is Serge Krancenblum, has 550 employees with about 260 of them in Luxembourg.
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