acquisition

Tower acquires remaining shares in National Pacific Insurance Limited

The business is headquartered in Samoa and serves people across Tonga, American Samoa and Samoa.

In October, Tower purchased an additional 22% stake in NPI from its second largest shareholder for approximately $3.4m or 14.00 Samoan Tala per share, bringing Tower’s total shareholding to over 93%. Following this acquisition, Tower will seek to purchase the remaining shares from minority shareholders, via a compulsory acquisition as allowed under NPI’s governing documents and local laws.

Neptune Pacific Line acquires Pacific Direct Line

The combined business will seamlessly link transport, warehousing, depots and customs clearance services and fully integrate customers’ supply chains across 18 South Pacific markets.

The acquisition of PDL will strengthen Neptune’s Melanesian and Polynesian network, provide a link to Micronesia and the French territories, and enhance connectivity to global markets via strategic hubs in New Zealand and Fiji.