Press briefing of Cabinet Decision taken on 2023-07-10

Selection of Transaction Advisors for Sri Lanka Insurance Corporation Ltd., Canwill Holdings (Pvt)Ltd.(Hyatt), Hotel Developers Lanka Ltd., (Hilton) and Litro Gas Lanka Ltd.

- Approval of the Cabinet has been granted at the meeting held on 2023‑03-13 to restructure the above mentioned companies. Accordingly, Expressions of Interest and Requests for proposal have been called for selecting Transaction Advisors for the said purpose by following the international competitive procurement procedure. Transaction Advisors for the above 4 companies have been selected by following the quality and cost based selection procedures from among the proposals shortlisted by the Standing Cabinet Appointed Procurement Committee. As such, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to enter into relevant agreements with the following selected Transaction Advisiors, was approved by the Cabinet

(i) Sri Lanka Insurance Corporation Ltd.- Alvarez and Marsal
(ii) Canwill Holdings (Pvt) Ltd - Deloitte India
(iii) Hotel Developers (Lanka) Ltd - Colliers Singapore
(iv) Litro Gas Lanka Ltd - Deloitte India