The San Francisco based US Equity Firm "TPG" one of
the three bidders short listed to purchase 49 % of the Sri Lanka's National Airline Carrier "Sri Lankan "Airlines has pulled out from the talks held with authorities on purchasing the minor stakes of the Airlines it has been revealed.
Sri Lanka is searching a foreign buyer to sell 49% shares of the Sri Lsnkan Airlines along with it's management control of the Airlines due to it"s current huge debt.
After calling bids to sell the minority stake of the Sri Lanka's national carrier with the aim of cutting it's current debt and make it a profitable one last July ,the Sri Lankan authorities short listed three buyers out of the nine bids submitted namely TPG Firm,A Maldivian Company and Peace Air based in Sri Lanka.However the bids of these three short listed companies were low according to the authorities.
Sri Lankan Authorities are now engaged in talks with the Dubai Emirates regarding the selling of minor stakes of the Airlines.
Sri Lanka is searching a foreign buyer to sell 49% shares of the Sri Lsnkan Airlines along with it's management control of the Airlines due to it"s current huge debt.
After calling bids to sell the minority stake of the Sri Lanka's national carrier with the aim of cutting it's current debt and make it a profitable one last July ,the Sri Lankan authorities short listed three buyers out of the nine bids submitted namely TPG Firm,A Maldivian Company and Peace Air based in Sri Lanka.However the bids of these three short listed companies were low according to the authorities.
Sri Lankan Authorities are now engaged in talks with the Dubai Emirates regarding the selling of minor stakes of the Airlines.
No comments:
Post a Comment