DFCC Bank finances Watawala Tea’s Daintee buyout | Sunday Observer

DFCC Bank finances Watawala Tea’s Daintee buyout

Director and CEO, DFCC Bank, Lakshman Silva (fourth from left) presents a memento to Group Managing Director, Sunshine Holdings, Vish Govindasamy to mark the occasion. Looking on are (from left): Aruna Deepthikumara, Group CFO Sunshine Holdings, Shyam Sathasivam, Managing Director - Watawala Tea Ceylon Limited, Shamindra Marcelline, Senior Vice President Corporate Banking, DFCC Bank, Palan Rajanathan, Vice President, Corporate Banking, DFCC Bank, Vindula Dharmasena, Relationship Manager Corporate Banking, DFCC Bank and Sumudu Abeygunasekara, Assistant Vice President Corporate Banking, DFCC Bank.

DFCC Bank PLC completed the acquisition financing for Watawala Tea Ceylon Limited recently.

Watawala Tea bought confectionery company Daintee Limited, adding several brands to its portfolio.

DFCC Bank Director and CEO Lakshman Silva said, “DFCC Bank is delighted to support and partner Watawala Tea Ceylon Limited in structuring and arranging this unique two-tiered facility which comprises guarantee and term loan facilities. This transaction stands as a further testament to our ability in closing large transactions, and our strong and continued commitment to our stakeholders.

DFCC Bank Senior Vice President and Head of Corporate Banking Shamindra Marcelline said, “This is a landmark transaction by the Bank for an important corporate banking client. The transaction marks another significant achievement, especially given prevailing market conditions which are conducive for strategic mergers and acquisitions. Congratulations to Watawala for leading the way. This transaction also highlights our capabilities in acquisition financing which is a key corporate banking initiative.?

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