The International Finance Corporation (IFC) has informed its intention to exit its investment in Cargills Food Company (Pvt) Ltd, by enforcing the ‘put’ option.

In a disclosure to the Colombo Stock Exchange, Cargills Ceylon PLC, stated that "pursuant to the agreement entered between International Finance Corporation (IFC), Cargills (Ceylon) PLC and Cargills Food Company (Pvt) Ltd dated 22 August 2014, IFC has informed the intention to exit its investment in Cargills Food Company (Pvt) Ltd, by enforcing the ‘put’ option."

“Accordingly, the board of Cargills (Ceylon) PLC at its meeting held on 29 June 2020, resolved to accept it at the time the Exit Notice is issued by IFC,” it said.

Cargills (Ceylon) PLC  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.

Cargills Foods Company (Private) Limited carries out the retail operations of the Cargills Group, including the Food City and Food City Express supermarket chains.