State Owned Enterprise Restructuring Unit

Entities to be divested

The Government of Sri Lanka Seeks Transaction Advisors To Assist In Divesting Selected State Owned Enterprises:

The Government of Sri Lanka (GOSL) is in the process of implementing deep economic reforms including in the State-Owned Enterprise (SOE) sector. Such reforms are intended to enhance competition, productivity and efficiency across the economy.

To implement SOE reforms, GOSL has set up the State-Owned Enterprise Restructuring Unit (SRU) under the Ministry of Finance, Economic Stabilization and National Policies (MoF). By Cabinet decision dated 13th March 2023, GOSL has mandated the SRU to divest an identified set of SOEs. To assist with such divestments, the SRU seeks to employ reputed, qualified and experienced firms to provide transaction advisory services. 

Cabinet approval has been granted to commence the divestiture of the following entities:

  1. 1. Sri Lankan Airlines Ltd including Sri Lankan Catering Ltd
  2. 2. Sri Lanka Telecom PLC
  3. 3. Sri Lanka Insurance Corporation Ltd
  4. 4. Canwill Holdings Pvt Ltd (Grand Hyatt Hotel)
  5. 5. Hotel Developers Lanka Ltd (Hilton Hotel Colombo)
  6. 6. Litro Gas Lanka Ltd including Litro Gas Terminals (Pvt) Ltd (LPG retailing)
  7. 7. Lanka Hospital Corporation PLC
  8. 8. Waters’ Edge Ltd

Respondents must submit their technical and financial proposals including all other associated attachments either delivered by hand or courier to the address below no later than 16.00 hours (IST) on xx xxx 2023.

The EOI and RFP for the above entities may be accessed by clicking on the link of the entity of interest.

The response to the EOI and RFP must be submitted no later than 16.00 hours (IST) on xx xxx 2023.