Invitation for Expression of Interest - Divestiture of 'Canwill Holdings (Pvt) Ltd' (Canwill)
2023/11/4 23:56:20
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). Grand Hyatt, Colombo 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 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). Media Contact: i. Sandeep Negi, Partner - Restructuring, DTTILLP, snegi@deloitte.com, +91-9810853754; ii. Vishal Kashyap, Executive Director - Restructuring, DTTILLP, vikashyap@deloitte.com, +91-9873025686; iii. Nabiha Mohamed, State-Owned Enterprise Restructuring Unit, Transaction Team Lead, canwill@sru.gov.lk