Privatization Commission Proposes JV for Roosevelt Hotel’s Privatization

The Privatisation Commission (PC) has proposed a joint venture transaction structure for the privatization of the Roosevelt Hotel in New York.

This comes after the financial advisor to the transaction Jones Lang LaSalle Americas, Inc. (JLL) submitted its Transaction Structure Report.

Jones Lang LaSalle evaluated various transaction options including outright sale, joint venture development, and long-term lease. After thorough analysis, JLL concluded that a joint venture would maximize the financial returns and value for the federal government.

During the recent PC board meeting, members approved several other significant decisions related to the privatization of state-owned entities. This includes the appointment of financial advisors for Pakistan International Airlines, various distribution companies (DISCOs), and the Roosevelt Hotel in New York, along with the selection of six prequalified firms to act as financial advisors for future transactions.