The Finance Ministry announced yesterday that it has garnered significant interest in the acquisition of Lanka Hospitals Corporation PLC, with eight Requests for Qualification (RfQs) submitted by potential investors. The deadline for proposal submissions was November 21, 2023.
The Finance Ministry disclosed that the evaluation of the eight received RfQs would be conducted in accordance with the Special Guidelines on Divestiture of State-Owned Enterprises, which received Cabinet approval in July 2023.
Handling the divestiture process, the International Finance Corporation serves as the transaction advisor for Lanka Hospitals. The current ownership structure involves a 51 percent stake held by state-owned Sri Lanka Insurance Corporation, with Fortis Healthcare International Ltd as the other major shareholder, holding 28.6 percent.
Besides, Bank of Ceylon subsidiary Property Development PLC owns a 9.5 percent stake in Lanka Hospitals. The divestiture process signifies a crucial step in reshaping the hospital's ownership landscape.
