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 13^th 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.

Related Posts via Categories

• Sri Lanka’s first pharma zone to open with US$ 10 million investment
• Car registrations down by 40%, three wheelers by 50% in 2017
• Investment in logistic projects in Muturajawela
• Avoid Cash or Cheques payment, and try SLIPS (Sri Lanka Inter-bank Payment System) by Central Bank
• Mihin Lanka Losses accumulated Rs. 17 Billion by Now
• Maximise your Dollar Investment with US$ 150 million Sri Lanka Development Bond
• New Terminal Building to construct for Bandaranaike International Airport
• University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake
• Commercial Bank open its new Bank services in Maldives
• Foreign Currency Exchange ATM now at Sampath Bank Galle Super Branch