Fijian Holdings Limited (FHL) has entered a conditional share sale agreement to acquire a 23.5 percent stake in Port Denarau Marina Limited (PDML) from Skeggs Group Limited. If finalized, this acquisition would increase FHL’s total ownership in PDML from 27.5 percent to 51 percent. FHL first acquired its initial stake in the marina facility in March 2024.
The completion of this transaction is contingent upon receiving necessary regulatory approvals from the Fijian Competition and Consumer Commission, the South Pacific Stock Exchange, and the shareholders of PDML. In its announcement to the market, FHL emphasized the strategic significance of this acquisition for its investment objectives and reassured stakeholders that PDML’s operations would continue unaffected during the process. Notably, a representative from Skeggs Group will remain on the PDML board to assist in a smooth transition, pending final approvals.
PDML is publicly listed on the South Pacific Stock Exchange, with the last recorded trading price at $2.10 per share. FHL stated that it would provide updates as the situation develops.
This acquisition represents a noteworthy step for FHL, aligning with its aggressive growth strategy in the investment sector. The company continues to display resilience and a commitment to enhancing its operational capabilities in the tourism industry, which could lead to greater stability and profitability for both FHL and PDML in the future.
As the market remains dynamic, this transaction not only underscores FHL’s intent to solidify its position in key sectors but also mirrors its broader strategy of fostering growth amidst potential global challenges.
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