News

News

Dubai-based Eagle Investments acquires Sri Lanka brokerage and asset management firm

June 18, 2013

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.

According to a media statement, 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 licenses to operate in Sri Lanka, covering equity capital market brokerage, asset management, financial advisory, and outsourcing, the statement said.

“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,” it said.

Raj, CEO of Eagle Proprietary Investments has said that Sri Lanka has come within the radar of Foreign Direct Investment inflows as the country’s political situation has normalized markedly in recent years.

“This acquisition will give investors from the GCC and wider Middle East access those markets through a fully integrated and highly qualified service proposition. At the same time, it will offer Sri Lankan companies an expanded range of services to support their businesses, strategies and growth,” Dvivedi was quoted in the statement.

Ravi Abeysuriya, CEO of Candor Equities, has said that Eagle Proprietary Investments and National Industries Group have recognized the immense growth opportunities present in Sri Lanka and its position within the marketplace.

To learn more about Candor Holdings, please visit  www.candor-holdings.com

 

Eagle Proprietary Investments Ltd and Accordion Partners launch Middle East Joint Venture to provide operational finance and CFO services in the MENA region

November 14, 2012

Eagle Proprietary Investments Ltd (‘Eagle’) – a leading growth equity investment firm specializing in a globally diverse mix of financial sector investments – and New York-based Accordion Partners LLC (‘Accordion’) have launched a Middle East JV to offer Accordion’s services to the MENA region.  Accordion will be represented in Dubai by Eagle Investments Limited.  Accordion is a new model financial services firm deliver cost-effective deal and project execution services to private equity firms and corporate development groups.  Clients turn to Accordion to act as an in-house team to execute highly-analytical operational and financial projects and to lead mergers and acquisitions, capital raises and refinancings, where an investment bank is often unneeded.  Since its founding in 2009, Accordion has partnered with more than 90 private equity and corporate clients, including holdings of Providence Equity Partners, The Riverside Company, Symphony Technology Group, Toyota and the US Navy.  In 2012, Accordion was awarded M&A Services Firm of the year for the second straight year by M&A Advisor and the Association for Corporate Growth.

National Industries Group Holding raises a KD 25 million Exchangeable facility

August 14, 2012

Eagle Investments Limited (‘EIL’) has arranged a conventional KD 25 million (c. $ 89 million) Exchangeable facility for Kuwait-based National Industries Group Holding (‘NI Group’).  Proceeds from the financing will be used to pay off NI Group’s maturing $475 million sukuk, due August 16, 2012.

National Industries Group Holding raises a KD 105 million Syndicated Exchangeable Murabaha

August 14, 2012

Eagle Proprietary Investments Ltd (‘Eagle’) has acted as Exclusive Financial Advisor to Kuwait-based National Industries Group Holding (‘NI Group’) on a KD 105 million (c. $370 million) Syndicated Exchangeable Murabaha.  Proceeds from the facility will be used to pay off NI Group’s maturing $475 million sukuk, due August 16, 2012.  The financing marks the first ever successful Islamic Exchangeable transaction in Kuwait.

Financial Advisor to Proclad Group

July 29, 2012

Eagle Proprietary Investments Ltd has acted as Exclusive Financial Advisor to Proclad Group Limited (‘Proclad’) in obtaining banking facilities.  Proclad – a world leader in providing corrosion resistant alloy solutions to the Oil and Gas industry – will use its expanded financing base to increase production in its state-of-the-art facilities located in Dubai’s Techno Park.

Eagle Proprietary Investments Ltd has acquired a stake in Accordion Partners

April 10, 2012

Eagle Proprietary Investments Ltd – a leading growth equity investment firm specializing in a globally diverse mix of financial sector investments -has announced an investment in New York-based Accordion Partners LLC (‘Accordion’).  Accordion is a new model financial services firm, which delivers cost-effective deal and project execution services to private equity firms and corporate development groups.  Since its founding in 2009, Accordion has partnered with more than 90 private equity and corporate clients, including holdings of Providence Equity Partners, The Riverside Company, Symphony Technology Group, Toyota and the US Navy.  In 2012, Accordion was awarded M&A Services Firm of the year for the second straight year by M&A Advisor and the Association for Corporate Growth.

To see full Press Release, please click here.

To learn more about Accordion, please visit www.accordionpartners.com.

National Industries Group Holding’s $1.14bn financial restructuring

April 1, 2012

Eagle Proprietary Investments Ltd has acted as Exclusive Financial Advisor to National Industries Group Holding (‘NI Group’), a Kuwait-based industrial conglomerate, on renegotiating liabilities – including bank debt and derivatives – amounting to $1.14 billion.  Eagle assisted NI Group with lender negotiations which resulted in terming out the company’s debt to maturities of 3 to 6 years and rebalancing the company’s capital structure.