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
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