A historic transaction unfolded behind closed doors at the Pricewaterhouse Coopers office in Suva today as the documents were signed to transfer the Fiji Times newspaper to new owners, the Motibhai Group of Companies.
Pricewatershouse Coopers Jenny Seeto said they are pleased to have concluded the deal within the limited timeframe.
Seeto also paid tribute to the spirit of the negotiations between the vendor and purchaser and in the resolution of issues in a timely manner.
Present at the signing today was Chairman of the Motibhai Group Mahendra Patel and executives of the group along with News Limited's Group CEO John Hartigan.
Patel said they will today inform the staff of the Fiji Times on the issues at hand before holding a press conference on the matter.
Meanwhile, the details and cost of the sale of the Fiji Times remains confidential.
Story by: Roneel Lal
News Ltd hands Fiji Times over to Motibhai Group
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