Five Bidders Shortlisted for Canwill Holdings Divestiture 📈

• Divestiture Progress: The Government shortlisted 5 out of 8 interested parties for the stake sale in State-Owned Enterprise Canwill Holdings Ltd., advancing them to the Request for Proposals (RFP) stage. • International Interest: Indian hospitality firms Chalet Hotels Ltd. and Juniper Hotels Ltd. were pre-qualified by the Ministry of Finance. • Local & Consortium Bids: Three other shortlisted proposals involve Sri Lankan firms, including a consortium of Phoenix Ventures Ltd. and Bluestone Capital Ltd., Ceylon Steel Corporation Ltd., and a joint offer by EML Consultants PLC with Italy’s Kimetal S.r.L. • Key Assets: Canwill Holdings is the parent company of: • Sinolanka Hotels & Spa Ltd.: Developing a 47-storey Grand Hyatt Colombo project featuring 458 hotel rooms and 100 serviced apartments. • Helanco Hotels & Spa Ltd.: Held a 9.42-acre beachfront lease in Hambantota, which expired due to non-initiation of construction. • Process Timeline: Expressions of Interest were called on 24 December 2025, with 8 parties submitting by the 16 March deadline. Shortlisted pre-qualified bidders now proceed to the second-stage RFP process.