Sri Lanka calls for Expressions of Interest for divestment of Canwill Holdings
Ada Derana: The Government of Sri Lanka (GoSL) intends to divest all or part of equity shareholding in Canwill, the parent company to Sinolanka Hotels & Spa (Pvt) Ltd (Sinolanka) and Helanco Hotels & Spa (Pvt) Ltd (Helanco).
I. Sinolanka: Owns an under-construction top tier landmark hospitality asset in Colombo, built to Grand Hyatt specks since Sinolanka has entered into a hotel management agreement with Hyatt International- Southwest Asia Ltd.
The property features an impressive 47-story structure with 458 rooms and an additional 100 serviced apartments, all situated on 2.32 acres of prime oceanfront real estate. The total built-up area encompasses a vast 1,340,562 square feet.
II. Helanco: Holds 9.42 acres of beachfront leasehold land in the southern city of Hambantota.
GoSL will implement this divestiture via its State-Owned Enterprise Restructuring Unit and Deloitte Touche Tohmatsu India LLP (DTTILLP) has been appointed as the Transaction Advisor. The divestiture will be completed through a two-stage competitive bidding process.
Interested parties are invited to access the Request for Expression of Interest document from the following website:
For additional information please contact: canwill@sru.gov.lk
The due date for the submission of Expressions of Interest is 28th November 2023, Tuesday, at 2 PM Indian Standard Time (14:00 hours).
OSL take:
Sri Lanka’s programmed to reform a selected group of state-owned enterprises (SOEs) has presented business/investment opportunities. With Sri Lanka working towards becoming an emerging business destination in the South Asian region and the ongoing economic activities, the country’s overall economy is on an expansion path with increasing business/investment opportunities. Given Sri Lanka’s economic resilience to external and internal challenges as well as the country’s geographical positioning in the Indian Ocean and the strong trade ties enjoyed with many countries, Sri Lanka’s growing business potential could be confidently explored by foreign businesses/investors. The SOEs identified by the government of Sri Lanka to be divested cover several key economic sectors that indicates a growing business opportunity.
| Article Code : | VBS/AT/20231106/Z_4 |