Washington-based International Finance Corporation was selected to help divest SriLankan Airlines, Sri Lanka Telecom and Lanka Hospital Corporation, Cabinet Bandula Gunwardana said.

Alvarez and Marsal will advise on the sale of Sri Lanka Insurance.

Deloitte India will advise on the sale of Canwill Holdings Pvt Ltd, and Litro Gas Lanka.

Colliers Singapore will advise on the sale of Hotel Development Lanka, which owns the Colombo Hilton building.

The cabinet had approved the signing of agreements with the divestment advisors.