Please see the complete statement released by NICIL below:
The government of Guyana has declared publicly that it is of the opinion that all six offers that were submitted for NICIL’s shares in AHI for the acquisition of the Guyana Marriott Hotel came in at a number that was not acceptable. This statement was made in reference to the acquisition of the hotel. NICIL got in touch with all six bidders on May 2, 2023, and informed them that the proposals they had filed had been disqualified for consideration. After then, each of the six potential purchasers was asked to make a fresh offer with a minimum purchase price of at least USD85 Million. The submissions have to be received by the 16th of May, 2023 at the latest.
It has been brought to the attention of the bidders that their proposal has to be enclosed in a sealed envelope before being placed in the tender box at the NICIL office. In addition, each potential bidder was asked to attend the opening of the bids, which was scheduled to take place on May 16 at 14:00 hours local time in the boardroom of NICIL.
(Image courtesy of NICIL) R.K. Sharma, Chief Executive Officer of NICIL
At the opening of bids, which took place on May 16th, 2023, representatives from one bidder were physically present, while a representative from another bidder participated electronically through Zoom Video Conference. In attendance at the Bid Opening Meeting were Mr. R.K. Sharma, Ms. Arianne McLean, and Mr. Naresh Balkaran, Manager of Internal Audit and Risk Management at NICIL.
There were two (2) bids contained within the tender box, which were opened and read aloud in the presence of all those who were currently there once the tender box was opened in front of everyone who was currently present. Those bidders who were present at the event had their bids recorded, signed, and recognized by NICIL representatives, and those bidders’ respective bids were also recorded and acknowledged.
The following businesses placed bids, which were presented and evaluated during the Bid Opening Meeting:
X,LLC – USD90 Million.
Integrated Group Guyana Inc. brought in an amount equal to $86.1 Million USD.
R.K. Sharma, Chief Executive Officer of NICIL, has issued the following statement:
The date is May 16th, 2023.