Monday, March 11, 2013
IFC & DEG to buy 10-pct each in Sri Lanka bank
Mar 09, 2013 (LBO) - The International Finance Corporation, a private sector financing arm of the World Bank and DEG, a German development financier will buy 10 percent stock each in a new Sri Lankan commercial bank.
Cargills Agriculture and Commercial Bank is being promoted by Sri Lanka's Ceylon Theatres group.
Sri Lanka's CT Holdings and Cargills (Ceylon) Plc said have agreed to subscribe 10 percent each in the bank subject to fulfilling "certain terms and conditions."
source - www.lbo.lk