Ahead of elections, only Hilton to be divested
With the presidential election scheduled for September 21, the restructuring efforts of state-owned enterprises have been pushed off the radar and may not happen at all.
The Sunday Times Business was informed on Friday by government representatives that the only transaction that could be completed in early August was that of Hotel Developers Lanka Limited (HDL), the company that owns Hilton Colombo.
They said that Sri Lanka’s Melwa Group, which is building several Hilton properties across the island, is probably going to close the deal with Hilton. According to sources, bids for Hilton Colombo have come from Japanese, Indian, Middle Eastern, and Nepali businesses.
Over 80 per cent of the work required for this transaction to be approved has been finished, which is why the Election Commission might clear it – as a non- political decision, the officials said.
The election Gazette Notification said that the nominations would be accepted on August 15, while the election would be held on Saturday, September 21.
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