Cabinet approves divestment of shares in SLT & Lanka Hospital

Treasury Secretary Mahinda Siriwardena has informed the board of directors of the Lanka Hospitals Corporation PLC and Sri Lanka Telecom PLC that the Cabinet have granted approval in principle for the divestment of major shareholding of those institutions.

The Treasury holds 49.50% of the issued share capital of Sri Lanka Telecom PLC while Sri Lanka Insurance Corporation holds 51.34% of the share capital of Lanka Hospitals PLC on behalf of the government.

Sri Lanka Telecom PLC in a letter to the Colombo Stock Exchange noted that the Treasury Secretary has informed the Board of Directors of SLT that the Cabinet has granted approval in principle for the divestment of the state held by the Secretary to the Treasury in SLT.

It added that the divestment will be implemented by the State-Owned Enterprise Restructuring Unit established under the Ministry of Finance.

Lanka Hospitals Corporation PLC informed the Colombo Stock Exchange that the Secretary to the Treasury has conveyed that an 'Approval in Principle' was granted by the Cabinet for the divestment of the major shareholding in Lanka Hospitals Corporation PLC.(DSB)