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Fijian Holdings Limited (FHL) has today announced the divestment of its shares in Good Luck Investment Limited.
In a statement, FHL established this being a joint venture with Tappoo Group, together with a New Zealand investor owned Mercure and Novotel hotel in Nadi.
Tappoo Group as a result will acquire FHL’s 50 percent holding in Good Luck Investment Limited.
FHL managing director, Sereana Qoro said the decision to divest is in line with FHL investment policy and based on a proper review of FHL’s investment portfolio.
“This divestment means FHL will only have Blue Lagoon cruises in the Tourism sector which would improve and strengthen our focus on the subsidiary,” Qoro said.
She further added the divestment will be at cost and as such, there will be no loss or gain in the FHL’s book.
FHL invested $600, 000 in Good Luck Investment Ltd in May 2004.
Story by: Edwina Chand
