Fijian Holdings Limited (FHL) is pleased to announce that it has today acquired an additional 23.5% equity interest in Port Denarau Marina Limited (PDML) from Skeggs Group Limited (Skeggs), following the successful completion of all required regulatory approvals. This acquisition follows the completion of the conditional sale and purchase agreement signed on 3 June 2025.
As a result of this transaction, FHL's shareholding in PDML has increased to 51%. This acquisition further strengthens FHL's strategic investment portfolio and the culmination of ongoing discussions with Skeggs and is fully aligned with FHL's long-term investment and growth strategy, particularly within key national economic sectors.
Rokoseru Nabalarua, Chairperson of FHL, commented: "This acquisition strengthens FHL's strategic footprint in Denarau, the heart of Fiji's tourism hub, and aligns with the emerging developments in Malolo and the Yasawa Islands. It deepens our long-term exposure to the tourism sector, enhances portfolio alignment with our strategic objectives, and reinforces our commitment to delivering sustainable value for our shareholders."
David Skeggs, Director of Skeggs Group Limited, commented: "As part of an internal investment restructure, we have agreed to divest our remaining interest in PDML. We are confident that FHL and FHUT, as long-term institutional investors, will provide stability and support to PDML's continued development. This outcome will benefit all stakeholders, staff, customers, and fellow shareholders."
PDML will continue to operate in the ordinary course of business, with the PDML Board providing ongoing strategic direction and governance oversight for the company.
To support continuity and an orderly transition, a representative of Skeggs Group Limited will remain on the PDML Board following completion of the acquisition with no changes to the Independent Directors who are appointed at the Annual General Meeting.