After some 70 expressions of interest, the Special Purpose Unit (SPU) received 10 submissions by yesterday’s deadline for bids for the Skeldon, Rose Hall and East Demerara estates.
The lower than expected number has been attributed to uncertainty over the functionality of the estates and concerns about competition from the state-owned GuySuCo.
“The major concerns of potential bidders related to regulations that are needed to ensure fair competition [with] government, that is, the legacy, GuySuCo,” Wilfred Baghaloo, Managing Director (Deals) of PricewaterhouseCoopers (PwC) Tax and Advisory Services Limited told a press conference yesterday.
