Canwill divestiture sets $ 50 m net worth bar for bidders

No valuation guidance at EOI stage; floor price possible later, Prospective investors required to do own independent due diligence when preparing bids, Govt. reserves right to impose floor price at RFP stage if deemed necessary, Govt. to divest 100% stake; asset-only sale ruled out, Hambantota land lease expired; no commitment to extend, Full legal, financial and technical details only at RFP stage under NDA

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THE Government has set a minimum net worth or financial capability threshold of $ 50 million for interested parties seeking to participate in the divestiture of Canwill Holdings Ltd., according to clarifications issued by the Finance, Planning and Economic Development Ministry.

The requirement is set out in the minutes of the Pre-Expression of Interest (Pre-EOI) meeting held on 21 January, released as a Frequently Asked Questions (FAQ) document in relation to the Request for Expression of Interest (REOI) dated 24 December 2025.

The Ministry clarified that participation at the Pre-EOI meeting is not a prerequisite for submitting an EOI and will not result in disqualification. Interested parties have been advised to rely on the REOI for eligibility requirements and the divestiture process, and to consult the published FAQ before seeking clarifications.

Under the eligibility criteria, all bidders must demonstrate a minimum net worth or financial capability of at least $50 million. Investment funds may meet this threshold through assets under management or committed capital of not less than $ 50 million, supported by audited financial statements or certifications from authorised fund managers, trustees, or administrators.