Sri Lanka Insurance Corp.
quote s privatisation kicked off today with the government calling for expressions of interest from local and overseas investors.rn
rnPotential investors would get the management control and ownership of a stakes up to 90 percent of SLIC, with a possible option to buy the employees 10 percent shares.
rnThe closing date has been left open, but the deal is expected to go through by end of this year, says advisors to the deal PricewaterhouseCoopers (PwC).
rnrnPwC spokesman Channa Manoharan told Lanka Business Online that the sale would also be advertised in the Economist and Asian Wall Street Journals later this week.
rnThe government is looking for investors in the life and general insurance, financial services or from a consortium that includes insurance operations.
rnPotential investors will have to provide details of their financial capacity to make the purchase, should contact the financial advisers before submitting their interest and for a brief information profile on