Diversified Melva Group who worked with Hilton in Yala and many other areas including Negombo and Kandy has also received a positive response from the Ministry of Finance, Economic Stabilization and National Policies unit for their bid for Colombo Hilton.
The deadline for the submission of proposals ended at 2 pm on July 10. Out of the two last bidders Melva has now narrowed to be the ONLY bidder for their interest in taking a stake in Colombo Hilton.
Government of Sri Lanka (GoSL) acting through the Ministry of Finance, Economic Stabilization and National Policies, on October 10, 2023 called for Expression of Interest (EoI) from interested parties for the divestiture of the shares held by GoSL in Hotel Developers (Lanka) Ltd (HDL), the owning company of the Colombo Hilton.
Nine responses were received and subsequent to evaluation by the Cabinet appointed Special Project Committee (SPC) and the Special Cabinet Appointed Negotiating Committee (SpCANC), four bidders were prequalified for the Request for Proposal (RfP) stage. RfPs were called for from the prequalified bidders on May 2, 2024. During the buy-side due diligence, two of the prequalified bidders withdrew from the divestiture process. Of the two remaining prequalified bidders, only one, Melwa Hotels & Resorts (Pvt) Ltd, submitted an offer. This offer will now be evaluated by the SPC and SpCANC against the terms and conditions set out in the RfP and in accordance with the Special Guidelines on Divestiture of State-Owned Enterprises as approved by the Cabinet of Ministers. During the evaluation process, the SpCANC has the mandate to further discuss this offer with the proposer.
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