13 Nov 2012

Samoa's PFL takeover about to be completed

1:42 pm on 13 November 2012

The takeover of the Samoa-owned Pacific Forum Line will be completed this week.

The media spokesperson for PFL, Tupuola Oloialii Koki Tuala, says PFL is now 100 percent owned by the government and is a limited company.

He has told the Samoa Observer the company had to finalise some of the administration procedures involving the execution of share transfers.

He says there is no need for a new corporation because the government bought all the PFL shares from 11 other countries in the company, so it just took over the company.

A transitional Board led by the Deputy Prime Minister, Fonotoe Pierre Lauofo, has been set up with the responsibility of managing and operating PFL.

Tupuola says the new Board is working together with Management to continue PFL's operations.