International Financial Services Provider for Sugar SPU Selected – PricewaterhouseCoopers in negotiations with SPU – PwC to provide transparency and accountability.
La Bonne Intention, Guyana, December 8, 2017: The Special Purpose Unit (SPU) under the National Industrial & Commercial Investments Limited (NICIL), yesterday announced that PricewaterhousseCoopers (PwC) has been selected by the SPU as International Financial Services Provider.
Selected tenders were invited from PriceWaterHouseCooopers, Ernst & Young, Delliote, and KPMG. However, KPMG did not submit a tender. The three firms, PriceWaterHouseCooopers, Ernst & Young, and Delliote, all made presentations to the NICIL/SPU evaluation team. After the presentations were concluded the evaluation team selected PwC. All negotiations with PwC have been conpleted and a contract is expected to be signed by December 18, 2017.
PwC, ranked as the most prestigious accounting firm in the world for the last seven consecutive years, will be conducting the valuation of all assets under the control of GuySuCo, in addition to providing other advisory and financial services.
After the valuation exercise PWC will develop an investment prospectus and will, through the SPU, distribute to all interested investors. PWC will be tasked with ensuring a level playing field for all interested parties and stakeholders.