Sri Lanka’s State-Owned Enterprises Restructuring Unit has responded to recent statements about the sale process of Hotel Developers Lanka and SLT.
The full statement is reproduced below:
With respect to the divestitures of Hotel Developers Lanka Ltd and Sri Lanka Telecom PLC, recent newspaper articles and social media content claim that:
1. The divestiture of Hotel Developers Lanka Ltd (HDL, the owning company of the Colombo Hilton) will include 7 acres of land:
This is incorrect. The land involved in the transaction amounts to 4.61 acres and is available for use by HDL on a leasehold basis until 2111. Subject to approval by the Cabinet of Ministers, a further 1.875 acres of land will be made available to HDL on a lease basis until 2111 at a price of Rs 4.4 billion (in addition to the price for HDL).
