Fijian Holdings Limited (FHL) has successfully acquired an additional 23.5 percent equity interest in Port Denarau Marina Limited (PDML) from Skeggs Group Limited, following the achievement of all necessary regulatory approvals. This acquisition, which stems from a conditional sale and purchase agreement signed on June 3, 2025, has resulted in FHL increasing its shareholding in PDML to a controlling 51 percent.
The move is set to enhance FHL’s strategic investment portfolio significantly, reflecting the company’s ongoing discussions with Skeggs and aligning with its long-term growth and investment strategy across critical sectors of the national economy. FHL Chair, Rokoseru Nabalarua, emphasized that this acquisition not only solidifies FHL’s presence in Denarau, a pivotal area in Fiji’s tourism landscape, but also aligns with upcoming developments in the Malolo and Yasawa Islands.
Nabalarua stated, “It deepens our long-term exposure to the tourism sector, enhances portfolio alignment with our strategic objectives, and reinforces our commitment to delivering sustainable value for our shareholders.” The acquisition showcases FHL’s focus on sustainable growth within the region’s thriving tourism sector.
David Skeggs, Director of Skeggs Group Limited, noted that the divestment is part of their internal investment restructuring process. He expressed confidence that FHL and FHUT, as long-term institutional investors, would provide stability and support for PDML’s ongoing development, ultimately benefiting staff, customers, and shareholders alike.
Following the acquisition, PDML is expected to continue its operations smoothly, with the current Board offering strategic direction and governance oversight. To ensure a seamless transition, a representative from Skeggs Group Limited will remain on the PDML Board, while independent directors nominated at the Annual General Meeting will retain their positions, ensuring consistency and continuity as the company moves forward.
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