The largest shareholder in Fiji Holdings Limited (FHL), the Cakaudrove Provincial Council is raising serious concerns on the decision by FHL to buy out the operations of BP South West Pacific.
Council Chairman Emitai Boladuadua said they were never consulted and believes it is a very risky deal to enter, putting their investments at risk.
The Cakaudrove Provincial Council has invited FHL Managing Director Sereana Qoro to their meeting in May to discuss these concerns.
Similar concerns have been raised by the Nadroga and Rewa Provincial councils after FHL announced that it will purchase BP service stations and related operations for $190 million.
FHL had earlier revealed that majority of the financing for the deal has already been secured from financial institutions in India.
Questions sent to Qoro on the matter this afternoon are yet to be answered.
FHL decision raises serious concerns
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