Seeking investors for SOEs
View(s):The Government has closed preliminary submissions towards acquiring the assets of key state-owned enterprises with the exception of Sri Lankan Airlines (SLA) which closes tomorrow (Monday).
Deadlines for the submission of RfQs for HDL, CHPL, LHCP, SLT, SLIC and LITRO have now closed, while the deadline for SLA remains open until April 22, the State-Owned Enterprises Restructuring Unit of the Ministry of Finance said.
It was providing an update on the divestiture process of shares held by the Government of Sri Lanka in several entities and the measures taken to manage the State Owned Enterprise (SOE) sector.
The Ministry says as of date, pre-bid meetings have been held for all entities identified for divestiture, adding that in certain instances, at the request of potential bidders with the advice of the Transaction Advisors and with approvals of the Special Project Committees (SPC) and Special Cabinet Appointed Negotiating Committee (SpCANC), the Request for Qualification (RfQ) closing dates were extended to foster greater competition.
It is envisaged that all transactions other than SriLankan Airlines will be concluded by August 2024, while the timeline for SriLankan Airlines is likely to extend to the end of September 2024, according to the update.
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