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ECONOMYNEXT – Nine parties have expressed interest to buy a stake in Hotel Developers (Lanka) Ltd, the State Enterprise Reform Unit said.

The full statement is reproduced below:

On 9th October 2023 via international and local media, The Government of Sri Lanka (GOSL) acting through
The Ministry of Finance, Economic Stabilisation and National Policies called for Expressions of Interest (EOI) from potential investors for the acquisition of shares in Hotel Developers Lanka Limited. The deadline for submission of proposals ended at 2pm on Thursday, 16th November 2023.

The EOIs received were considered by the Opening Committee appointed by the Special Cabinet Appointed
Negotiating Committee. 9 EOIs were received and will be evaluated as per the Special Guidelines on
Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023.

Colliers International Consultancy & Valuation (Singapore) Pte Ltd and its advisory partner Platinum Advisors Pte. Ltd, as Transaction Advisors for the divestiture of Hotel Developers Lanka Limited, will continue to advise GOSL.

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