Fijian Holdings Ltd (FHL) is set to strengthen its position in the tourism sector with plans to acquire a controlling stake in Port Denarau Marina Ltd (PDML). An Extra-Ordinary General Meeting (EGM) has been scheduled for December 5, 2025, where PDML shareholders will convene to discuss and vote on this pivotal proposition.
Earlier this year, in June, FHL entered into a Share Sale Agreement with Skeggs Group Limited to acquire the latter’s 23.5 percent stake in PDML. This acquisition will elevate FHL’s ownership from 27.5 percent to a commanding 51 percent, and will increase FHL Trustees Limited’s interest from a mere 0.11 percent to 19.63 percent. This movement from foreign to local ownership in crucial tourism infrastructure is anticipated to enhance Fiji’s economic sovereignty and contribute positively to sustainable tourism growth in the region.
Having initially acquired a stake in PDML in March of the previous year, FHL views this acquisition as a strategic alignment with its long-term objectives. The company focuses on investments that yield impact, future-proofing core assets, and fostering local economic engagement. FHL’s dedication to sustainable development includes leveraging existing resources to explore new business avenues and supporting local suppliers to sustain employment in the community.
The proposed sale has attracted significant attention due to its potential to positively influence Fiji’s economy, particularly concerning foreign reserves, as dividends would be paid locally. This anticipated shift is expected to foster greater local participation in the economy. FHL also aims to merge its operational capabilities with PDML’s existing infrastructure, promoting stability and growth in the sector.
Currently, PDML is listed on the South Pacific Stock Exchange (SPX), with shares trading at $2.25 at the time of reporting. The forthcoming EGM will evaluate the proposed acquisition in light of the benefits outlined by FHL, with shareholders encouraged to consider the broader impact of this transaction on both the community and the economy.
FHL’s commitment to maintaining operational integrity throughout this transition, alongside its proactive approach to stakeholder engagement, presents an optimistic outlook for both FHL and PDML. By shifting to local ownership, this transaction could lead to a more robust economic framework within Fiji’s essential tourism industry, enhancing resilience and fostering growth moving forward.