Invitation for Expression of Interest - Divestiture of 'Canwill Holdings (Pvt) Ltd' (Canwill)

COLOMBO,Sri Lanka,Oct. 30,2023 -- 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).

Grand Hyatt,Colombo

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 impressive47-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,vikashyap@deloitte.com,+91-9873025686;

iii. Nabiha Mohamed,State-Owned Enterprise Restructuring Unit,Transaction Team Lead,canwill@sru.gov.lk