The State-Owned Enterprise Restructing Unit (SRU) of the Ministry of Finance, Economic Stabilization and National Policies (MoF), will be placing advertisements in the local and international press and via LinkedIn on Thursday 30th of March, calling for Expressions of Interest (EOI) from consultancy firms interested in providing sell-side transaction advisory services with respect to the divestiture of Government of Sri Lanka (GoSL) controlled stakes.
Accordingly the following companies have been listed,
1. Sri Lanka Insurance Corporation Ltd
2. Litro Gas Lanka Ltd and Litro Gas Terminals Ltd
3.Hotel Developers Lanka Ltd ( The Hilton, Colombo)
4. Canwill Holdings Pvt Ltd ( Grand Hyatt, Colombo)
Interested firms will be required to respond to Request for Proposal ( RFP) documents as well when responding to the EOI. Firms are free to express interest with respect to one or more of the above mentioned enterprises. Responses must be submitted on or before 4pm on 27th April 2023. The Quality and Cost Based Selection (QCBS) method of GoSL’s Consultant Procurement Guideline will be used to select transaction advisors.
Meanwhile, MoF is in the process of negotiating with the International Finance Corporation (IFC), a member of the World Bank Group, to seek it services as transactional advisor for the divestiture of GoSL’s stakes in the following enterprises:
1. Sri Lankan Airlines incl. Sri Lankan Catering Ltd
2. Sri Lanka Telecom PLC
3. Lanka Hospital Corporation PLC
The transaction advisors will, inter-alia, assist the SRU with sell-side due diligence, valuation, data room creation, transaction strategy and marketing of the entities to be divested.
The divestiture will be carried out by the SRU in a transparent and credible manner following an EOI/RFP process which will be published in the local and international press.
Unsolicited proposals will not be entertained.
Source By themorning.lk
