Apenisa Waqairadovu 
Fijian Holdings Limited [Source: Linkedin Fiji]
Fijian Holdings Limited could soon become the biggest shareholder of Port Denarau Marina Limited.
This is as FHL has announced the execution of a share sale agreement with Skeggs Group Limited for the potential acquisition of Skeggs’ 23.5% shareholding in Port Denarau Marina Limited.
If the transaction is successfully completed, FHL’s stake in PDML would increase from 27.5 percent to 51 percent.
FHL initially acquired a 27.5% shareholding in PDML in March 2024.
It says that completion of this transaction is subject to regulatory approvals, including from the Fijian Competition and Consumer Commission and the South Pacific Stock Exchange, approval from PDML shareholders, and compliance with Section 252 of the Companies Act 2015 as conditions precedent.
If successfully completed, this acquisition will mark a significant milestone in FHL’s strategic investment objectives.
FHL says PDML will continue its operations as usual, with no expected changes to its business activities or workforce until and following the proposed acquisition.
It adds that to support and facilitate continuity and transition, a representative from Skeggs Group will serve on the PDML Board following the completion of the transaction, subject to final approvals.
Further announcements will be made as and when material developments occur.
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