SSNIT Hotel Sale Saga: Rock City Withdraws Bid, Discontinue Pursuit of Investment

Rock City have written to inform the Director General and Management of the Social Security and National Insurance Trust SSNIT, their decision to withdraw their bid and discontinue their pursuit of that investment opportunity.

A letter signed and dated on 12th July, 2024 Rock City Hotel addressed the Director General of the SSNIT the notice of withdrawal of the Bid.

Stating the reason behind the company’s decision, a portion of the letter stated that they were surprised some of the stakeholders of SSNIT had raised concern about SSNIT’s decision to seek strategic partners to those hotels.

The notice further said that, they had also taken note of ongoing media discussion on their decision to seek strategic investors of those hotels.

“We have also taken note of your recent media engagement and press statements ostensibly defending your decision to seek strategic investor” a part of the letter read.

Below is the full PDF letter
Notice Of Withdrawal Of Bid-1