After announcing earlier that the multimillion dollar deal to purchase the operations of BP South West Pacific was to be sealed by the end of June, Fijian Holdings Limited is still trying to resolve the paper trail before pen is put to paper.
In a market announcement earlier this month, FHL revealed that it has 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 today that the timeline could be further extended.
Qoro stresses 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 tries to resolve paper trial
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