Invitation for Expression of Interest – Divestiture of ‘Canwill Holdings (Pvt) Ltd’ (Canwill)

by Theleaders-Online | October 30, 2023 10:25 am

COLOMBO, Sri Lanka, Oct. 30, 2023 /PRNewswire/ — 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: https://www.treasury.gov.lk/web/sru-entities-to-be-divested/section/canwill-holdings[2]

For additional information please contact: canwill@sru.gov.lk[3]

The due date for the submission of Expressions of Interest is 28th November 2023, Tuesday, at 2 PM Indian Standard Time (14:00 hours).

Media Contact:

i.  Sandeep Negi, Partner – Restructuring, DTTILLP, snegi@deloitte.com[4], +91-9810853754;

ii.  Vishal Kashyap, Executive Director – Restructuring, DTTILLP, vikashyap@deloitte.com[5], +91-9873025686;

iii.  Nabiha Mohamed, State-Owned Enterprise Restructuring Unit, Transaction Team Lead, canwill@sru.gov.[6]lk[7]

Source URL: https://theleaders-online.com/invitation-for-expression-of-interest-divestiture-of-canwill-holdings-pvt-ltd-canwill/

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