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SLT share sale : 3 companies submit proposals

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On 10th November 2023 via international and local media, The Government of Sri Lanka (GOSL) acting through The Ministry of Finance, Economic Stabilization and National Policies called for Request for Qualification (RfQ) from potential investors for the divestiture of its shares in Sri Lanka Telecom PLC. The deadline for submission of proposals ended at 2pm on Friday, 12th January 2024.

The RfQs received were considered by the Opening Committee appointed by the Special Cabinet Appointed Negotiating Committee.

3 RfQs were received from the following parties:

  • Jio Platforms Ltd, Gujrat, India
  • Gortune International Investment Holding Ltd c/o Capital Alliance Limited
  • Pettigo Comercio International LDA c/o NDB Investment Bank Ltd

The RfQs will be evaluated as per the Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023.

The International Finance Corporation acts as Transaction Advisors for the divestiture of shares held by GOSL in Sri Lanka Telecom PLC.

(Press Release from State Owned Enterprises Restructuring Unit)

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Australia’s United Petroleum enters SL market

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Australia’s United Petroleum has entered into an agreement with the Sri Lankan government to supply petroleum products to the Sri Lankan market.

According to United Petroleum Lanka, Australia’s United Petroleum entered into the relevant agreement with Sri Lanka’s Ministry of Power and Energy on Feb 22.

Following the signing of the agreement, United Petroleum is assigned 150 existing fuel stations and also has the right to build 50 new fuel stations in Sri Lanka.

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4 SriLankan Airlines flights experience delays

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This morning, four SriLankan Airlines flights experienced delays as ground staff refrained from performing some of their duties, according to reports.

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SDB CEO announces resignation

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Sanasa Development Bank CEO Priyantha Talwatte has announced his resignation with effect from Feb. 20.

In a filing to the Colombo Stock Exchange, the SDB has said the Board accepted his resignation.

Talwatte joined SDB bank in November 2022 after resigning from Nations Trust Bank in April 2022 having served the institution for two decades.

Commanding over 30 years’ experience in banking Talwatte is an alumnus of Harvard Business School (AMP) Boston, USA.

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