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Final bids received for SLIC

A Technical Evaluation Committee under the supervision of a Cabinet Appointed Tender Board has begun the evaluation of the final bids received by the Public Enterprises Reform Commission of Sri Lanka. Bids were received on November 29, 2002 for 90% of the shares of Sri Lanka Insurance Corporation Ltd (SLIC) held by the Government of Sri Lanka, states a PERC press release.

The competitive sales process commenced in July this year when the Government advertised internationally for Expressions of Interest in SLIC. Sixteen parties submitted Expressions of Interest, following which they were invited to submit preliminary bids by September 17, 2002. Parties who submitted preliminary bids were then invited to proceed towards submission of Final Bids.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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