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The Rewa Provincial Council has requested details of the $190 million acquisition of BP South West Pacific (BP SWP) by local equity investment company Fijian Holdings Limited (FHL).
FHL’s wholly-owned subsidiary FHL Energy Ltd had won the bid to acquire the oil company, of which its transition processes are still ongoing.
The FHL has indicated that it was seeking both local and offshore financial assistance for this major acquisition.
Council chairperson Ro Teimumu Kepa has written to FHL managing director Sereana Qoro seeking an explanation on behalf of the province on the oil deal.
She said the recent deal had caused alarm and discomfort to the people of Rewa.
“Without a doubt, indigenous Fijians have benefitted directly or indirectly with the success of FHL through dividends paid out over the years and which has financed their expansion and development,” Ro Teimumu said.
“However, the recent intervention on the company’s corporate structure, executive positions and now the proposal to acquire BP South-West Pacific Ltd, have caused concerns to Fijians, including the people of my province,” she said.
Ro Teimumu said the matter would be discussed by the Council Development Committee at a meeting scheduled to be held before the full council meeting in the first week of April.
Earlier this month, Turaga na Ka Levu Ratu Sakiusa Makutu made similar queries on behalf of the people of Nadroga regarding the likely impact of the acquisition.
