Two weeks not enough to place EOIs for Hyatt and Hilton Hotels: Vasudeva

Oct 23, 2018 (LBO) – Sri Lanka’s government should extend the time period given to investors to place Expressions of Interests (EOIs) for the divestiture of Hyatt and Hilton Hotels, Parliamentarian Vasudeva Nanayakkara reiterated today.

Nanayakkara who is a lawyer by profession said in a statement that real investors require time to get approvals from their Management and Boards of Directors to place Expressions of Interests.

“The main issue I raised was as to why such a short period from 18.10.2018 to 31.10.2018 had been given for international bidders to submit Expressions of Interest,” Nanayakkara asked.

“The above leads to the suspicion that the deals had been already pre-arranged and struck with some parties on the basis of private negotiations secretively.”

Nanayakkara urged the government to extend the time period by at least 3 months to enable genuine large international corporates and multinationals to respond.

Related: Finance Ministry justifies divestiture of Hyatt and Hilton Hotels

The statement issued by Parliamentarian Vasudeva Nanayakkara

Statement