Japan-based trading and investment giant Mitsui and Company Limited has partnered with the ACI Logistics Limited, a subsidiary of ACI PLC, through a foreign currency-denominated convertible loan facility aimed at strengthening Bangladesh’s modern retail sector.
The partnership will be executed through Mitsui’s Singapore-based subsidiary, Mitsui and Co, Asia Pacific, subject to relevant regulatory approvals, said a press release.
ACI Logistics operates Shwapno, the country’s largest grocery retail chain, with more than 836 outlets nationwide.
The structured convertible loan facility is expected to enhance the company’s financial capacity and support its long-term expansion and operational development plans.
ACI PLC chairman Anis Ud Dowla, managing director Arif Dowla, ACIL managing director Sabbir Hasan Nasir and Mitsui consumer-centric business development unit chief operating officer Kazuhide Nakajo, among others, attended the signing ceremony.
As one of Japan’s leading multinational corporations with operations in more than 60 countries, Mitsui brings global sourcing expertise, cross-industry experience and technical know-how to the partnership.
