Sri Lanka’s Ministry of Finance, Planning, and Economic Development has announced plans to engage with stakeholders in anticipation of the divestiture of Canwill Holdings (Pvt) Ltd. This company is the parent of Sinolanka Hotels & Spa (Pvt) Ltd and Helanco Hotels & Spa (Pvt) Ltd. The government has expressed its intention to divest its entire shareholding in Canwill Holdings as part of its ongoing program for State-Owned Enterprise reform and divestment.
According to a statement from the ministry, a Pre-Expression of Interest (Pre-EOI) Meeting will be organized concerning the proposed transaction. This meeting is scheduled to be held virtually on January 21 at 12 PM Sri Lanka time.
Interested parties are invited to participate in this meeting to seek clarifications and address any queries related to the Request for Expression of Interest (REOI) and the proposed transaction.
Established in December 2011, Canwill Holdings was created to invest in the tourism and hospitality sector. Its shareholders include the Sri Lanka Insurance Corporation, Employees’ Provident Fund, and Litro Gas Lanka. Notably, the company owns the Grand Hyatt building in Colombo.
The previous government initiated a call for expressions of interest in 2023. The current administration approved the resumption of the sale last year. This divestiture forms part of a broader privatization initiative.
(Colombo/Jan15/2026)
