The Finance Ministry has announced that it has received a total of 14 Request for Expression of Interest (REOI) from potential investors for the strategic divestiture of Litro Gas Lanka Ltd. (LGL) and Litro Gas Terminals Ltd. (LGT).
The interested parties include companies from various countries such as Singapore, India, Turkey, Thailand, UAE, and Sri Lanka.
Some notable entities among them are Bharat Petroleum Corporation Ltd. (India), Confidence Petroleum India Ltd. (India), Tristar Group (UAE), Laugfs Gas PLC (Sri Lanka), Vitol Asia Pte Ltd. (Singapore), and China National Aero Techno (Sri Lanka).
The REOI was released on 16 January by the Government through the Ministry of Finance, Economic Stabilisation, and National Policies, seeking interested parties for the strategic divestiture of Litro Gas Lanka and Litro Gas Terminals.
The submission deadline for proposals ended recently.
An Opening Committee appointed by the Special Cabinet Appointed Negotiating Committee will evaluate the received REOIs.
The evaluation process will follow the Special Guidelines on Divestiture of State-Owned Enterprises, a framework approved by the Cabinet of Ministers in July 2023.
Deloitte India serves as the Transaction Advisors for the Strategic Divestiture of shares held by the Government in Litro Gas Lanka (LGL) and Litro Gas Terminals (LGT).
