Thursday, 08 February 2024 12:06

Indian companies rush to buy Sri Lanka's Canwill Holdings Featured

Canwill Group ventures include a 47-story hotel project consisting of 458 rooms and 100 serviced apartments built to Grand Hyatt specks in Colombo 3 and construction of a luxury beach resort on 9.42 acres of beachfront land in the southern city of Hambantota

Six companies mostly from India have been pre-qualified to submit Request for Proposal to acquire Canwill Holdings Ltd., which is developing a 47-story hotel project consisting of 458 rooms and 100 serviced apartments built to Grand Hyatt specks in Colombo 3.

The five Indian companies are RKG Fund 1-Scheme of RKG Trust, Gland Celsus Bio Chemicals Ltd., DB Realty Ltd., Jindal Films India Ltd., and Bright Star Investments Ltd. The sole Sri Lankan bidder is consortium Consulting Engineers and Contractors Ltd., and K.D.A. Weerasinghe and Company.

The short-listing follows the Expression of Interests which closed on 12 December last year. Deloitte India is the transaction advisor for the divestiture of Government’s stake in Canwill Holdings

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