Government shortlists advisors for sale of four SOEs

Friday, 19 May 2023 00:45 - - {{hitsCtrl.values.hits}}

The Government has short-listed transaction advisors to assist in the divestiture of four State Owned Enterprises (SOEs).

They are Sri Lanka Insurance Corporation Ltd., Hotel Developers Lanka Ltd (Hilton Hotel Colombo), Canwill Holdings Ltd (Grand Hyatt Hotel), and Litro Gas Lanka Ltd including Litro Gas Terminals Ltd (LPG retailing).

The short listing follows the evaluation of the about a dozen Expression of Interests (EOIs) received by the Standing Cabinet Appointed Consultant Procurement Committee of the State Owned Enterprise Restructuring Unit, within the Finance Ministry.

Daily FT learns the short listed for the advisory role in Sri Lanka Insurance Corporation are Asia Securities, Capital Alliance, Deloitte, PwC and CT CLSA.

For Hotel Developers, the shortlisted are Asia Securities, Capital Alliance, Platinum, Deloitte, and PwC.

For Canwill Holdings, the parties are Asia Securities, Capital Alliance, Platinum, Deloitte and PwC.

For Litro the shortlisted are Asia Securities, Capital Alliance, Platinum, Deloitte, PwC and NDB.

The deadline for EOIs was extended till 8 May from the original date of 27 April based on multiple requests.