One of Fiji’s premium supermarket chain – New World Limited – has become an associate company of Fijian Holdings Limited.
The announcement was made today – as the FHL Group’s move to restructure its portfolio.
FHL acquired fifteen point forty four per cent of New World Limited in 2000 – while a further four point eighty four per cent was acquired and placed at the Fijian Holdings Unit Trust.
With the consent of all shareholders and clearance from the Fiji Consumer and Competition Commission – four point eighty four per cent stake was transferred to FHL in June this year.
With this change – New World Limited officially becomes an associate company of Fijian Holdings Limited.
FHL Group chief executive officer – Nouzab Fareed said the acquisition of New World’s shares will increase the dividend revenue to FHL – while expanding the investment portfolio.