Fijian Holdings Limited has announced that it has acquired the Management Contract to manage the RB Patel Group.
In a statement Managing Director Sereana Qoro announced that FHL Retailing Ltd, a wholly subsidiary of FHL has acquired the Management Contract, which was possible through an options agreement signed between FHL Retailing and RB Patel Family in April 2008, when the former acquired a major shareholding in RB Patel Group.
Qoro said it will be business as usual as the RB Patel family will continue to manage the business following this acquisition through a separate Technical Consultancy Agreement with FHL Retailing Ltd.
Qoro adds the retail sector within FHL Group will be strengthened with this acquisition while providing an enhanced dividend stream to FHL.
FHL acquires Management Contract of RB Patel Group
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