sex hikayeleri interior desing escort fethiye escort denizli porno hikaye kredi kartı borç sorgulama sitesi yayında ziraatbank borç sorgulama
BUSINESS NEWS
July 03, 2012 12:00:00 AM
  Follow @ Twitter

Southern Cross Foods Limited is the new owner of Fiji Dairy Limited (FDL).

This was announced this afternoon by Minister for trade and Attorney General Aiyaz Sayed-Khaiyum.

Sayed-Khaiyum said this was after cabinet approved the sale of FDL to Southern Cross Foods Limited a subsidiary of CJ Patel with a purchase price of $10million.

“The $10 million could fluctuate depending on the level of debts at the time of the actual sale being finalised but together with SC Foods it will takeover the entire debt portfolio of Fiji Dairy Limited which is approximately $17 million,” said Sayed-Khaiyum.

He said the agreement for sale has number of conditions to it and this has been agreed to with the proposed purchaser.

“They will hold 80 per cent of the shares in the company, the farmers will continue to hold 20 per cent so they will have all the dividend rights but not the voting rights but the farmers will have a 100 per cent control of the Fiji Corporative Dairy Limited which is their organisation, they will all be shareholders in that and of course they will get dividend in that,” he said.

Meanwhile, FDL chair Adrian Sofield said they received 16 expression of interest and they narrowed it down to 12 and then to two companies after tow companies withdrew.

He said the company was chosen because they have a good distribution network and experience in food processing not only in Fiji but other Pacific islands.

He also said  the whole process will be finalised within six to eight weeks in order to get all the paper work done.

By Mereani Gonedua
 

Pillow Talk


PREVIOUS STORY
Stock market not necessary here: Sharma
NEXT STORY
Get business in order: Commission urges

Bookmark and Share
   




FIJI NEWS
Thai Minister here to strengthen relationsKingdom of Thailand's Minister for Agriculture and Cooperatives, General Chatchai Sarikulya arrived into the country this evening to strengthen ties between Fiji and Thailand.
WORLD
Pope prays for peace in Syria, KoreaPope Francis prayed for a "political solution" in Syria and for "reconciliation" on the Korean peninsula in his first Easter Sunday message in front of a crowd in St Peter's Square.
TECHNOLOGY
Fiji receives ICT awardFiji’s efforts in harnessing its ICT sector has been recognised by the International Telecommunications Union and Prime Minister Voreqe Bainimarama yesterday received the ICTs in Sustainable Development Award in New York.
BUSINESS
Fiji Airways to commence Tonga flightsFiji’s national airline, Fiji Airways has announced plans to commence twice-weekly flights to Vava’u, Tonga starting April 02, 2016.
SPORTS
Matarerega double sinks RewaFiji U23 marksman Rusiate Matarerega scored a double as Suva came from behind to beat arch rivals Rewa 2-1 in their opening fixture of the Vodafone Premier League at Ratu Cakobau Park today.
ENTERTAINMENT
Bajirao Mastani wins top awardsBajirao Mastani walked away with most awards at the 2015 Brittania Filmfare Awards in Mumbai, India this morning.
NEWS SPORTS INFOTAINMENT MOBILE HOT TOPICS FOLLOW US ON