SLIC Sale

The Public Enterprises Reform Commission (PERC) is to call for Expressions of Interests (EOIs) to dispose the government
quote s controlling stake in Sri Lanka Insurance Corp. by mid-July.rn

rnPERC says that it has now commenced the process of privatising SLIC by appointing a team of both international and Sri Lankan advisers led by PricewaterhouseCoopers to advise on the sales process. The team has already begun working with SLIC and PERC.

rn”Strong interest in SLIC from both domestic and international investors is anticipated,” PERC said.

rnPERC through the Steering Committee appointed to oversee the privatisaion process, together with the advisors expect to commence preliminary contacts with potential investors shortly with plans for a transparent and fully competitive sales process to be completed by the end of year 2002.

rn”The data collecting process from the management by the Advisers relation to SLIC is now reaching its final stages. The Expressions of Interest advertisement are scheduled to b