Fijian Holdings Limited has today announced the divestment of its shares in Good Luck Investments Limited.
This was a joint venture with Tappoo Group, which together with a NZ investor owned Mercure and Novotel Hotels in Nadi.
FHL managing director Sereana Qoro confirmed that the Tappoo Group will now acquire FHL's 50 percent holding in Good Luck Investments.
Qoro said the decision to divest is in line with FHL’s investment policy and based on a proper review of FHL's investment portfolio.
She said this divestment means FHL will have only Blue Lagoon Cruises in the tourism sector, which would improve and strengthen their focus on the subsidiary.
Qoro also confirmed that the divestment will be at cost and there will be no loss or gain in FHL's books.
FHL invested $600,000 in Good Luck Investments Limited in May 2004.
By: Vijay Narayan
FHL divests shares in Good Luck Investments
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