Close Scrutiny

The Technical Evaluation Committee under the cabinet appointed tender board
quote s supervision has begun evaluating final bids for the Sri Lanka Insurance Corp. sale, PERC said Monday.rn

rnThe government plans to dispose 90 percent of its stake in the insurance giant later this month.rn

rnThe competitive sales process for SLIC began in July, but the race has narrowed down to three firm bids.rn

rnJanashakthi Insurance Ltd., Commercial Bank/DFCC Bank consortium and Aitken Spence/Stassens/Distilleries Corp. consortium had sent in their financial and technical proposals when bids closed on Friday evening. rn

rnTwo pre-qualified bidders endash Asia Capital/Asian Alliance consortium and Zurich/Eagle Insurance consortium, had failed to make it to the finishing line.rn