KPMG-led consortium appointed financial adviser for HBFCL privatisation
The Privatisation Commission has signed a Financial Advisory Services Agreement (FASA) with a KPMG-led consortium to advise on the privatisation of House Building Finance Company Limited (HBFCL), marking the government’s second attempt to sell the housing finance company, the Privatisation Commission spokesperson said in a press release on Sunday. The consortium comprises KPMG, Bridge Factor,…
The Privatisation Commission has partnered with a KPMG-led consortium to advise on the privatisation of House Building Finance Company Limited (HBFCL), marking a second attempt at selling the entity. The consortium, comprising KPMG, Bridge Factor, Haidermota & Co., HRSG, and Asiatic Public Relations, will provide financial, legal, human resources, and public relations expertise to support the Privatisation Commission in the transaction process.
This move follows the previous attempt's failure, with PMRCL being the sole bidder but their bid rejected for being below the approved reference price. The renewed effort aims to leverage private-sector expertise to enhance HBFCL's governance and operational efficiency, ultimately expanding housing finance access, particularly for low- and middle-income households, in line with the government's goal of promoting affordable housing.
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