Nadi retail venture safe despite rumours

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Gavin Lipsith

12-Jan-2006

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Motibhai Group and Tokatoka Holdings prepare to make their joint airport retail business official in the wake of media reports of a dispute

Motibhai Group and Nadi airport landowner Tokatoka Holdings have dismissed local reports of a dispute between the two companies, stating jointly that their retail partnership at Nadi airport will proceed as planned. The two companies were set to complete an agreement to cooperate in the Waqavuka Development Co, which began its 10-year retail concession at the airport on January 1. The venture will trade under Motibhai's well-established Prouds retail branding.

The source of the rumours is unclear, and Motibhai president Mahendra Patel declined to elaborate on the situation. "The local media have made a mountain out of a molehill," he told DFNI Asia. "The joint venture we signed with Tokatoka, which was part of the concession requirements, is a done deal and we have already begun trading. These rumours will not affect the business."

Waqavuka Development Co is owned by Motibhai, with 70% of the company, and Tokatoka, and was awarded the Nadi contract in March last year. Both Motibhai and rival Nadi airport retailer Tappoo Group were required to sign joint-venture agreements as part of negotiations for their continued presence at the airport.

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