Wellington, Sept 23 NZPA - Tourism Holdings Ltd (THL) has entered into an agreement to sell its Fijian businesses.

Tourist Transport (Fiji) Ltd (TTF) and Feejee Experience have been sold by THL to Fijian business interests and will be merged with Coral Sun (Fiji) Ltd creating Fiji's "largest and most comprehensive tourist transportation operator", the company said in a statement.

THL chief executive Grant Webster said it was an "exciting opportunity" for the Fijian businesses with a new owner with strong Fiji ties and long-term business interests.

He expected settlement to be completed at the end of September once "relevant Fijian regulatory approvals" were obtained.

The sale price would be based on net assets and THL would use the proceeds to repay debt, he said.