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Tourism Holdings Limited expects an underlying net profit after tax to exceed $75m for FY23.
Jucy Group’s $50m acquisition of the Star RV premium motorhome brand could double the operator’s annual revenue in the near term, says the company’s chief executive.
The deal marked a number of firsts for takeovers, according to THL’s legal advisers.
THL and its controlled entities now hold all of Apollo’s shares, and it has also completed the divestment of assets to Jucy, required under the deal.
Both THL and Apollo’s executives have all been retained in the new merged entity, albeit some with changed roles or reporting lines.
Apollo’s CEO will be in charge of finding further M&A, as THL casts an eye over executive role duplication.
Tourism Holdings Limited and Apollo Tourism & Leisure have secured the last legal approval required for their merger.
Apollo Tourism & Leisure’s shareholders have voted in favour of Tourism Holdings’ takeover.
“We now have much greater confidence that the merger will proceed,” says Tourism Holdings chair Cathy Quin.
Tourism Holdings and Apollo clear the first of two competition hurdles with the deal now dependent largely on Australia’s watchdog.
The Commerce Commission has delayed its decision on Tourism Holdings’ proposed acquistion of Apollo Tourism & Leisure to 14 April 2022.