MTI enables CIC Grains asset divestment
A subsidiary of CIC Holdings PLC, CIC Grains Ltd sold its assets to one of the leading players in the poultry industry which was facilitated by MTI’S Corporate Finance arm.
This sale was made to two joint ventures of Bairaha Group, Fortune Agro Industries Ltd and Windsor Real Estate Ltd which includes the land, building, plant and machinery located in Moneragala which was previously owned by CIC Grains Ltd.
Samantha Ranatunga, MD of CIC Holdings PLC said, “We have been focusing on our main strengths which has made us to realign the current business structure of our company and we have selected MTI to facilitate this in a more rationalize way as result of which we have decided to sell our Moneragala asset to a very well-known group in the country and we wish them all the very best.”
Proceeding the sale Hilmy Cader, the CEO of MTI Consulting mentioned that: “As a part of the rationalizing and realignment process which MTI is advising CIC on, CIC Grains sale was made to the Bairaha Group of which we are immensely pleased of been the facilitator for this transaction and it’s my pleasure to mention that working with CIC so far has been great exposure to the MTI team.”