Port Denarau Marina Limited is poised for a significant ownership transition, as Fijian Holdings Limited (FHL) moves to acquire a controlling interest in the company. An Extra-Ordinary General Meeting (EGM) is scheduled for Friday, December 5, 2025, at 12:30 pm to seek shareholder approval for this pivotal transaction, which will elevate FHL’s stake from 27.5% to a decisive 51%.
The key discussion point of the meeting will be a special resolution to facilitate the acquisition of shares currently held by the majority stakeholder, Skeggs Group Limited. The deal will be executed in two phases: first, FHL will increase its shareholding to achieve majority control, and simultaneously, FHL Trustees Limited, affiliated with FHL, will expand its ownership from 0.11% to 19.63%.
If the resolutions pass, the combined interest of the FHL Group in Port Denarau Marina will amount to an impressive 70.63%. This acquisition is taking place under section 252(2)(n) of Fiji’s Companies Act 2015, emphasizing the procedural integrity of the transaction.
This move follows FHL’s previous acquisition in March 2024, when it first purchased its initial stake. The acquisition demonstrates FHL’s commitment to expanding its influence within the marina and tourism sectors and supports its strategic growth objectives. The company has consistently indicated that the operational integrity and strategic direction of Port Denarau Marina will remain unaffected throughout this transition, with assurances that a representative from Skeggs Group will continue on the board, ensuring continuity.
FHL has shown solid financial performance recently, announcing an interim dividend of $4.113 million and strong profits driven by its diversified portfolio across tourism, retail, and finance sectors. This robust financial backdrop reinforces confidence in FHL’s capabilities to navigate market challenges while enhancing operational stability and growth in its new role as a major stakeholder in Port Denarau Marina Limited. The anticipated changes are viewed positively, suggesting a strong future for both the entity and the communities involved, emphasizing FHL’s role as a cornerstone in Fiji’s economic landscape.
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