Tonga duty-free stores up for sale

Nicole Mezzasalma

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The government is offering 75% shareholding in retailer and distributor Leiola Group for interested buyers

The government of Tonga has announced it is to sell 75% of its shares in Leiola Group, the sole duty-free distributor and retailer in the country, according to local news site Tonga Review. The group owns the duty-free store at Fua’amotu International airport and also operates an outlet at the Janfull International Dateline hotel.

According to the government, Leiola Group has been consistently profitable since it was founded in 1994 and has the potential to develop further in the retail sector. Although the company’s books are not available, potential buyers will have the opportunity to undertake due diligence and valuation of the shares.

A formal tender is expected to be issued next week. Interested parties can obtain the tender documents and information from the office of the Ministry of Public Enterprises of Tonga.