FHL maintains deal to purchase BP

Fijian Holdings Limited (FHL) said that the plate form is being laid for the takeover of the BP South West Pacific Operations as they await word from their financiers.

FHL Chairman Isoa Kaloumaira confirmed to Fijivillage that some of the members of the India technical team have completed their work and returned to report on the progress to the Hindustani Petroleum Company.

FHL confirmed earlier that the team from India was here to assess FHL's recent business performance.

The acquisition date for the $190 million deal was extended from June to mid July and Kaloumaira said as far as they are aware everything remains on track and if any further extension is required for the acquisition of the deal, the two parties will meet to reach an agreement.

He said they are still awaiting word from a India based company on the loan to seal the deal and he is confident this will come through in due time.