Final decision looms on three remaining bids for sugar estates

Wilfred Baghaloo

The three remaining bidders for GuySuCo’s Skeldon, Rose Hall and Enmore estates should know government’s decision by the end of this month.

Wilfred Baghaloo, Managing Director (Deals) of PricewaterhouseCoopers (PwC) Tax and Advisory Services Limited told Sunday Stabroek that by January 21st, 2019, PwC will submit a report and recommendation on the way forward to the steering committee of the National Industrial and Commercial Investments Limited (NICIL), including the preferred bidder or bidders

PwC was contracted by NICIL’s Special Purpose Unit (SPU) to undertake valuations of the assets of GuySuCo in order to secure prospective investors.

After the evaluations are completed and PwC submits its recommendation to the NICIL steering committee, it will then give the information to government.  It will be Cabinet that will make a final decision. “PwC would give the score, because they will use a scoring system for the business plans as they evaluate them in terms of technical and financial aspects and that sort of thing. They will look at the bids, score, make their evaluation and recommendations but we still have to submit to Cabinet,” Head of NICIL Horace James had previously explained, while noting that Cabinet will make a decision on the information that PwC and the steering committee submits…..

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