Roosevelt divestment: No FA appointment approval or decision from govt

ISLAMABAD: The Privatisation Commission (PC) Board neither approved appointment of any financial advisor nor took any decision on the presentation made by the financial advisor on Roosevelt Hotel.

The meeting of the PC Board was held on 20th August, 2024.

As per the agenda of the meeting, the PC Board considered the proposal for prequalification of panel of financial advisors for the privatisation programme.

PIA, Discos, Roosevelt Hotel: PC Board gives approval to appointment of FAs

The selection committee presented their recommendations for consideration by the board. The decision, in this behalf, will be announced after confirmation of the same by the board in its next meeting, scheduled to be held in week’s time.

Further, the financial advisor for the divestment of Roosevelt Hotel, M/s Jones Lang LaSalle Inc (JLL) presented a transaction structure report to the board, suggesting various options for the Roosevelt transaction and responded to the queries by the board members.

The board held an in-depth discussion on the proposed options and directed the PC to carry out additional analysis on the proposed options and present the same to the board in its next meeting, scheduled to be held in a week.

There was no decision by the board with respect to transaction options and its submission to the Cabinet Committee on Privatisation (CCoP).

Copyright Business Recorder, 2024