The Finance Ministry has transferred 19 plots under its name to the Fahi Dhiriulhun Corporation (FDC) in exchange for an MVR 1 billion stake in the company.
FDC is a 100-percent government-owned corporation, with a total of 200 million shares valued at MVR 2 billion.
The government transferred 19 plots of land to the FDC as payment for 103 million shares out of the 107 million shares that remain unpaid by the government.
The two parties agreed on the price of the land at MVR 1.3 billion. The Civil Court has declared the transaction valid.
