Sri Lanka Insurance units Litro Gas, Canwill to be ‘carved out’ before divestiture

Units of state-run Sri Lanka Insurance including Litro Gas, Litro Terminals and Canwill Holdings will be ‘carved out’ before diverstiture, according to information given at a pre-bid meeting of prospective transaction advisors.

Canwill Holdings, Litro gas and Litro terminals are subsidiaries of SLIC, which be carved out from SLIC to the Secretary of Treasury before a divestiture, the State Enterprise Restructuring Unit has told prospective transaction advisors.

SLIC’s life and general business will also be segregated before a sale.

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