Sri Lanka’s Cargills gets US$20mn of IFC investment

The Hapag-Lloyd delegation including, Capt. Prateek Gandhi – Director Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Faheem Mir – Manager - Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Lalith Witanachchi – Vice President, Hapag-Lloyd Lanka (Pvt) Ltd, Mr. Mindaka Dassanayake – General Manager, Hapag-Lloyd Lanka (Pvt) Ltd.,Mr. Rohan Ranasinghe – Terminal Operations Manager, Hapag-Lloyd AG and Mr. Iqram Cuttilan – Managing Director, Aitken Spence Shipping Ltd poses for a pic with SLPA’s Chairman -Admiral Sirimewan Ranasinghe and the Managing Director - Eng. Ganaka Hemachandra. SLPA's Vice Chairman - Eng. Herath M.P. Jayawardhana, Director (Operations) - Mrs. G. Zavia Miskin and Director (Marketing and BD) - Mr. H J K U Kumara are also present.

Feb 16, 2015 (LBO) – International Finance Corporation (IFC), a unit World Bank has invested 20 million US dollars in Sri Lanka’s Cargill Food Company, the group said in a filing to stock exchange.

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The group said that IFC subscribed to an eight percent stake in the share capital of Cargills Food Company, wholly owned subsidiary of Cargills (Ceylon ) Plc.

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IFC has invested 2,550 million rupees in Cargills Food Company (Pvt) Ltd, the unit which operates Cargills Food City and Cargills Express supermarkets, to subscribe for the allotted shares, endorsing a pre- money equity valuation of 29,325 million rupees for the group retail business. Cargills Food City is Sri Lanka's largest self-service retail network.

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