Rock City Hotel management has withdrawn its bid of 60% stake in hotels owned by the Social Security and National Insurance Trust .
In a letter to the SSNIT Director General,they stated:
“ it surprised us when some stakeholders raised concerns about your decision to seek strategic partners for these hotels.”
“We have also noted the ongoing media discussions about your choice to pursue strategic investors and your recent press statements defending this decision.
As a result, we are formally notifying you of our decision to withdraw our bid and discontinue our pursuit of this investment opportunity,”
Rock City Hotel Limited had initially won the bid for a 60% stake in four SSNIT-owned hotels.
Read Letter:
