Tuesday Apr 23, 2024
Tuesday Apr 23, 2024
Thursday, 30 March 2023 02:27 - - {{hitsCtrl.values.hits}}
The Government is calling for Expression of Interest for transaction advisors to handle the divestiture of stakes in select State Owned Enterprises (SOEs).
The State-owned Enterprise Restructuring Unit (SRU) of Ministry of Finance, Economic Stabilisation and National Policies (MoF), will place advertisements in the local and international press and via LinkedIn today (30 March), calling for EOIs from consultancy firms interested in providing sell-side transaction advisory services with respect to the divestiture of Government of Sri Lanka (GoSL) controlled stakes Sri Lanka Insurance Corporation, Litro Gas Lanka and Litro Gas Terminals; Hotel Developers Lanka (The Hilton, Colombo) and Canwill Holdings (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 4 p.m. on 27 April 2023. The Quality and Cost Based Selection (QCBS) method of GoSL’s Consultant Procurement Guideline will be used to select transaction advisors.
The Finance Ministry is also in the process of negotiating with the International Finance Corporation (IFC), a member of the World Bank Group, to seek its services as transaction advisor for the divestiture of GoSL’s stakes in the following enterprises: Sri Lankan Airlines incl. Sri Lankan Catering, Sri Lanka Telecom PLC., and 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 divestitures 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.
