It is unlikely that the multimillion dollar deal to purchase the operations of BP South West Pacific would be sealed any time soon as announced earlier by Fijian Holdings Limited.
In a market announcement earlier this month, FHL revealed that it had reached an agreement to extend the time frame for the acquisition of BP South West Pacific to mid to late June 2009.
However, FHL General Manager Sereana Qoro has indicated that the timeline could be further extended.
Qoro stressed though that FHL is on track to purchase the oil company.
It was earlier announced that FHL had agreed to purchase all BP South West Pacific service stations and other operations at a cost of $190 million.
FHL also paid an additional $5 million to BP as a further deposit for the acquisition.
FHL still in process of purchasing BP
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