An important step has been taken in the privatisation of House Building Finance Company Limited (HBFCL), with the Privatisation Commission and a consortium led by KPMG signing a financial advisory services agreement.
Under the agreement, the financial adviser will handle due diligence, valuation and the preparation of the transaction structure. It will also assist the Privatisation Commission with marketing and all stages of the privatisation process.
The consortium includes Bridge Factor, Haidermota & Co., HRSG and Asiatic Public Relations Network.
According to the Privatisation Commission spokesperson, this is the second attempt to privatise HBFCL. The previous attempt was cancelled after the sole bidder's offer fell below the reference price.
The Privatisation Commission spokesperson said the privatisation aims to make the housing finance sector more active and dynamic.
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