23 Sep 2010

Fiji business sold by Tourism Holdings

12:03 pm on 23 September 2010

Campervan rental company Tourism Holdings has sold its two businesses in Fiji to Coral Sun, a tourist transport business there.

Tourist Transport Fiji and Feejee Experience, which targets the backpacker market, were sold for a total of $1.7 million.

The acquisition will make Coral Sun the largest tourism transport company in Fiji.

Tourism Holdings chief executive Grant Webster says Coral Sun approached them and it seemed like a good opportunity to sell.

Proceeds from the sale will be used to reduce the company's $36 million debt.

Mr Webster says Tourism Holdings has no plans to sell any other assets.