The State-Owned Enterprises Restructuring Unit has reported that fourteen potential investors have expressed interest in the strategic divestiture of Litro Gas Lanka Ltd (LGL) and Litro Gas Terminals (Pvt.) Ltd (LGT).
The Requests for Expression of Interest (REOIs) were reviewed by the Opening Committee appointed by the Special Cabinet-Appointed Negotiating Committee.
Notable entities among the 14 REOIs include Epdesa Pte Ltd from Singapore, Bharat Petroleum Cop. Ltd from India, Ayaz Anonim Sirketi from the Republic of Turkey, and Siam Gas and Petrochemicals Public Company Limited from Thailand.
These REOIs will undergo evaluation by the Special Project Committee, following the Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023.
Deloitte India is serving as the transaction advisor for the strategic divestiture of LGL and LGT.
The submission deadline for proposals was January 15, with Deloitte India holding a media briefing on January 16.
