The following announcement is made in accordance with Section 8.1 of the Listing Rules of the Colombo Stock Exchange By Cargills (Ceylon) PLC on 13th February 2015.
Further to the disclosure dated 25 August 2014, we wish to inform you that on 12 February 2015 International Finance Corporation (IFC) subscribed to an 8% stake in the share capital of Cargills Foods Company (Pvt.) Limited (CFC), wholly owned subsidiary of Cargills (Ceylon) PLC (CCP).
Having received IFC Board approval and Conditions for Subscription duly complete, IFC has invested a sum of LKR 2,550Mn (approximately US$ 20Mn) to subscribe for the allotted shares, endorsing a pre-money equity valuation of Rs.29,325Mn for the Group’s Retail business.
Cargills Foods Company (Pvt.) Limited carries out the Retail operations of the Cargills Group, made up of the Cargills Food City and Cargills Food City Express supermarket chains.