FNPF in talks to acquire 100% GPH ownership
07:32 Wed Jun 13, 2018
Taken from/By: Google
Report by: Rachael Nath
The Fiji National Provident Fund has expressed their interest to take up a hundred percent ownership of the Grand Pacific Hotel in Suva.
FBC News was reliably informed that the FNPF is holding talks with major shareholders, Papua New Guinea based Lamana Development and PNG’s Superannuation Fund.
FNPF currently owns twenty-five percent of the GPH.
Recently, the Superannuation Fund announced the acquisition of the Marriott Denarau tourism assets.
These include the 297- room Sheraton Resort, 246-room Westin Resort, and the 111 hec¬tare Denarau Golf Course and Development Land.
FNPF acquired the assets from Marriott International at a non-disclosed substantial amount.
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