In a press statement issued today, Fijian Holdings Ltd announced the divestment of its shares in Good Luck Investments Ltd. It was a joint venture with Tappoo Group, which together with a NZ investor owned Mercure and Novotel hotels in Nadi. Tappoo Group will acquire FHL’s 50% holding in Good Luck Investments Ltd.

“The decision to divest is in line with FHL investment policy and based on a proper review of FHL’s investment portfolio”, says Sereana Qoro, Managing Director of FHL. She added further, “This divestment means, FHL will have only Blue Lagoon Cruises in the tourism sector which would improve and strengthen our focus on the subsidiary.”

“The divestment will be at cost and as such, there will be no loss or gain in FHL’s books. We really appreciate our joint venture partner Tappoo Group’s contribution to date and will continue to welcome investment opportunities with them in the future”, Mrs. Qoro said.

FHL invested F$ 600,000 in Good Luck Investments Ltd in May 2004. 


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