The Government of Sri Lanka (GoSL), through the Ministry of Finance, Economic Stabilization, and National Policies, has commenced the process of divesting its shares in Canwill Holdings (Pvt) Ltd. 

Expressions of Interest (EOIs) were invited from potential investors, with a submission deadline set for 2:00 pm on Friday, 12 December, 2023.

After the deadline, the received EOIs underwent a thorough evaluation process in line with the terms and conditions specified in the Request for Expressions of Interest. 

This evaluation was carried out in adherence to the Special Guidelines on Divestiture of State-Owned Enterprises, approved by the Cabinet of Ministers in July 2023.

Following the evaluation, a select group of bidders has been identified and pre-qualified by the Cabinet Appointed Special Project Committee (SPC) and the Special Cabinet Appointed Negotiating Committee (SpCANC). 

Among the pre-qualified bidders are entities such as RKG Fund I- Scheme of RKG Trust, Gland Celsus Bio Chemicals Private Limited, DB Realty Limited, Jindal Films India Limited, Bright Star Investments Private Limited, and Consulting Engineers and Contractors (Pvt) (Ltd) and K.D.A. Weerasinghe & Co. (Pvt) Ltd from Sri Lanka.

Deloitte India has been appointed as the Transaction Advisor for the divestiture of GoSL's shares in Canwill Holdings (Pvt) Ltd.