Fijian Holdings Limited (FHL) has successfully expanded its portfolio by acquiring an additional 23.5 percent equity stake in Port Denarau Marina Limited (PDML) from Skeggs Group Limited, following the completion of all necessary regulatory approvals. This significant transaction, which follows a conditional sale and purchase agreement made on June 3, 2025, raises FHL’s total ownership in PDML to 51 percent.
This strategic acquisition is a pivotal move for FHL, bolstering its influence within the tourism sector, which plays a crucial role in Fiji’s economy. FHL Chair, Rokoseru Nabalarua, noted that this development not only strengthens FHL’s foothold in Denarau—an essential hub in Fiji’s tourism landscape—but also aligns with growth initiatives in nearby areas such as Malolo and the Yasawa Islands. Nabalarua underscored that this investment reinforces FHL’s commitment to the tourism sector and its mission to create sustainable value for shareholders.
David Skeggs, Director of Skeggs Group Limited, explained that their decision to divest their remaining interest in PDML is part of an internal investment restructuring effort. He expressed optimism that FHL and the Fiji Holdings Unit Trust (FHUT) will ensure stability and ongoing support for PDML, ultimately benefiting all stakeholders, including employees, customers, and investors.
Post-acquisition, PDML will continue its regular operations while its Board provides strategic guidance and governance. To facilitate a seamless transition, a representative from Skeggs Group Limited will remain on PDML’s Board, and all Independent Directors appointed during the Annual General Meeting will retain their positions.
This acquisition underscores FHL’s ongoing commitment to enhancing its investment portfolio and promoting sustainable growth in key sectors of the Fijian economy, marking a hopeful step toward a stronger future for both the company and the tourism industry in Fiji.