CIEL Investment Ltd (CIL) reinforces its presence in the financial services sector, particularly in the global business sector with the acquisition of a 55% stake in an offshore management company, Mauritius International Trust Company Limited (MITCO).

According to Jean Pierre Dalais, CEO of CIEL Capital, “the island has become a regional financial centre due to the rapid growth in the global business sector since 1993 with 33,500 corporate vehicles registered in Mauritius as at June 2009.  The expanding network of double tax treaties has reinforced the seriousness of Mauritius as a tax efficient jurisdiction”  Thierry Hugnin, also of Ciel Capital added that “Through this acquisition, CIL increases its footprint in the financial services sector and notably in the global business sector where we own Halifax Management Services, a company acquired in October 2007.  MITCO will complement the existing strengths of Halifax and they will eventually merge into a unified entity providing the full range of services to their growing clients”.

CIL is also an important shareholder of Bank One and Investment Professionals ltd.