$50 Million Threshold Set for Canwill Divestment

The Government has set a minimum financial capability requirement of $50 million for parties seeking to participate in the divestiture of Canwill Holdings Ltd., according to clarifications issued by the Ministry of Finance, Planning and Economic Development.

The requirement was outlined in a Frequently Asked Questions document released following a Pre-Expression of Interest meeting held on 21 January. Officials emphasized that attendance at the meeting is not mandatory for submitting an Expression of Interest.

The Government plans to divest its entire 100% shareholding in Canwill Holdings through a competitive Request for Proposal process, with the transaction structured as a share sale rather than an asset-only acquisition. No indicative valuation will be provided at the EOI stage.

Authorities also confirmed that the beachfront lease for the Hambantota hotel project has expired and may not be extended. Detailed legal and financial information will be disclosed to pre-qualified bidders during due diligence at the RFP stage.

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