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The group swoops on Torlesse Travel and BOP’s Bethlehem Coachlines.
A group of Auckland and Queenstown Lakes investors and operators have acquired the business.
THL bought a 49% stake in the business in 2015 for £1.74m (NZ$3.96m) when the company had 130 motorhomes.
Thursday’s decision from Australia’s competition watchdog could mark the start of a new phase for the operator.
The operators will sell 310 of Apollo’s motorhomes in NZ and Australia to secure merger approval, with a ComCom decision expected today.
Air New Zealand says it has not been approached and is not in discussions with any parties regarding a potential merger.
Tourism Holdings and Apollo Tourism & Leisure have offered a court-enforceable undertaking to sell most of the latter’s Australian fleet, says the Australian Competition and Consumer Commission (ACCC).
The operator plans to buy 1,000 new vehicles to meet expected demand, which is returning much faster than expected.