Privatisation commission defers decision on financial advisor for Roosevelt Hotel

WEB DESK: The Privatisation Commission (PC) Board, during its meeting on August 20, did not reach any conclusions regarding the appointment of a financial advisor or on the presentation related to the Roosevelt Hotel.

The meeting’s agenda included discussions on the prequalification of financial advisors for the privatisation programme. While the selection committee presented its recommendations, the board deferred making a final decision, which is expected to be confirmed in the next meeting, scheduled for the following week.

In the same meeting, the board received a detailed report from M/s Jones Lang LaSalle Inc. (JLL), the financial advisor overseeing the Roosevelt Hotel’s divestment. The report proposed several transaction structure options for the hotel. The board thoroughly examined these options and requested further analysis before making any decisions. This additional analysis will be reviewed at the next meeting.

As of now, no decisions have been made regarding the proposed transaction options or their submission to the Cabinet Committee on Privatisation (CCoP).

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