CIM Finance sells forex subsidiary to SWAN

The Board of CIM Financial Services Ltd has sold its wholly owned subsidiary, Cim Forex Ltd to Swan General Ltd for an undisclosed amount.

The transaction received regulatory approval, the company said in a communique issued through the Stock Exchange of Mauritius.

CIM Finance explained that this sale is in line with its “strategic intent to concentrate its resources on the growth of its core activities”.

CIM Forex was incorporated in 1997 and has been regulated and licensed by the Bank of Mauritius to carry out foreign exchange business in Mauritius since 1999.

As a foreign exchange dealer, the company buys and sells foreign currencies, on a spot and forward basis; carries out the function of a money changer.