Cargills (Ceylon) PLC has entered into an agreement with the International Finance Corporation (IFC) for an equity investment into Cargills Foods Company (Private) Limited which is the wholly owned subsidiary carrying out the retail operations of Cargills (Ceylon) PLC.
IFC is to invest approximately USD 20 million (Rs. 2,550 million) to subscribe in an 8% stake in the share capital of Cargills Foods Company.
Cargills Foods Company (Private) Limited carries out the retail operations of the Cargills Group, including the Food City and Food City Express supermarket chains.
The Group’s other operations like the FMCG sector including the dairy and restaurant sectors and investments into banking and property will remain with Cargills (Ceylon) PLC.
www.adaderana.lk
IFC is to invest approximately USD 20 million (Rs. 2,550 million) to subscribe in an 8% stake in the share capital of Cargills Foods Company.
Cargills Foods Company (Private) Limited carries out the retail operations of the Cargills Group, including the Food City and Food City Express supermarket chains.
The Group’s other operations like the FMCG sector including the dairy and restaurant sectors and investments into banking and property will remain with Cargills (Ceylon) PLC.
www.adaderana.lk
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