Sri Lanka calls for Expression of Interest for divestment of Canwill Holdings

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: [email protected]

The due date for the submission of Expressions of Interest is 28th November 2023, Tuesday, at 2 PM Indian Standard Time (14:00 hours).

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