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Country Bird‚ IFC in talks over funding

Feb 25 2013 08:53
I-Net Bridge

Johannesburg - Poultry producer Country Bird Holdings [JSE:CBH] announced on Friday that it had entered into negotiations with the International Finance Corporation (IFC) to secure funding that would enable it to expand its geographic footprint in Africa.

The IFC is considering the possibility of investing $25m in the form of a convertible instrument.

The funding will be utilised to increase chick production in Zambia and Botswana‚ to expand the feedmill capacity in Zambia‚ to increase broiler meat processing capacity and to construct soybean deactivation plants at two of its feedmills.

Country Bird cautioned that if the talks succeeded‚ they may have a material on the company’s share price.  

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