THL

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.

Tourism Holdings Limited expects its New Zealand tourism division to return positive earnings this fiscal year after two years of losses.

Earlier guidance from August 2022 expected net profit to range between $17m – $30.2m.

THL bought a 49% stake in the business in 2015 for £1.74m (NZ$3.96m) when the company had 130 motorhomes.

The campervan company says the deal will lead to new jobs and increase its locations across Australasia.

“We now have much greater confidence that the merger will proceed,” says Tourism Holdings chair Cathy Quin.

Thursday’s decision from Australia’s competition watchdog could mark the start of a new phase for the operator.

Tourism Holdings and Apollo clear the first of two competition hurdles with the deal now dependent largely on Australia’s watchdog.

The operators will sell 310 of Apollo’s motorhomes in NZ and Australia to secure merger approval, with a ComCom decision expected today.

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).

Waitomo Glowworm Caves visitor centre will host seven workshops as part of Conservation Week, run by Tourism Holdings staff employed through the government’s Jobs for Nature programme.

CEO Grant Webster calls on the government to invest more in Tourism New Zealand.

Tourism Holdings Limited and Apollo Tourism & Leisure have agreed to extend the final date for a proposed merger deal to 15 October.

Australian PE firms Next Capital and H&G are being lined up in a deal, which will see Jucy Rentals re-enter the motorhome market.

Tourism Holdings Limited’s long-serving director and chair, Rob Campbell, has resigned from the board.

The operator has engaged KPMG to gauge interest in the business.

NZ’s competition watchdog says it still has concerns, following on from Australian misgivings released Thursday.

The Australian watchdog’s concerns come on the eve of a decision on the deal from the Commerce Commission.

The Commerce Commission has pushed out its decision on Tourism Holdings’ proposed acquisition of Apollo Tourism & Leisure to 28 April 2022.

The Australian Competition and Consumer Commission has delayed its decision regarding the proposed merger between Tourism Holdings Limited and Apollo Tourism & Leisure.

The Commerce Commission has cleared Australia’s Camplify to acquire Tourism Holdings Limited’s peer-to-peer motorhome and campervan rental platforms, Mighway and SHAREaCAMPER.

Tourism Holdings Limited has sold its Roadpass digital shareholding for approximately NZ$23.9m to joint venture partner THOR Industries.

The competition regulator says other campervan and motorhome rental operators will be a “weak constraint” on the proposed merged entity.

The operator’s chief commercial and customer officer beat three other top contenders to the prestigious accolade on Wednesday evening.

The Commerce Commission has delayed its decision on Tourism Holdings’ proposed acquistion of Apollo Tourism & Leisure to 14 April 2022.

The ending of STAPP support for the glowworm experiences has seen revenue dry up.

The operator says revenue for the six months to December 2021 fell to $175m.

The Commerce Commission has opened public submissions on the proposed acquisition of THL’s Mighway and SHAREaCamper by Camplify.

Tourism Holdings Limited is arguing in its application to the Commerce Commission to acquire a rival motorhome and campervan rental services company that the deal should proceed due to over-capacity in the market, low barriers to entry and differences in products the two companies offer.

ASX-listed Camplify has applied to the Commerce Commission for permission to acquire Tourism Holdings’ peer-to-peer motorhome and campervan rental platforms, Mighway and SHAREaCAMPER.

Tourism Holdings’ subsidiary THL Group (Australia) Pty Ltd has sought clearance from the Commerce Commission to acquire 100% of the shares in Apollo Tourism & Leisure Ltd.

The proposed deal will see Apollo become a wholly-owned subsidiary of Tourism Holdings.

Tourism Holdings’ Get Moving to Get NZ Moving campaign has been recognised at the 2021 TVNZ-NZ Marketing Awards.

Tourism Holdings’ sale of peer-to-peer campervan rental businesses Mighway and SHAREaCAMPER to Australia’s Camplify Holdings is now conditional on obtaining any competition approvals required.

Tourism Holdings is selling its peer-to-peer campervan rental businesses Mighway and SHAREaCAMPER to Australia’s Camplify Holdings.

Tourism Holdings Limited reiterated that it expects to make another net loss after tax for the current year to June, but sees the period as having two distinct halves.

Tourism Holdings has appointed Nick Voss to be its acting deputy chief financial officer while Steven Hall takes 12 months parental leave.

Tourism Holdings says it regularly considers being dual listed on both the NZX and ASX and continues to mull joining the Australian bourse.

Retail and events are two areas of opportunity Tourism Holdings is exploring.

The group’s New Zealand tourism business has tipped into the red making a $600k loss.

Tourism Holdings Limited now expects a net debt of $50m at end-June, versus up to $90m seen earlier.

Stong RV sales in the US is bringing in revenue but rental demand is slow due to the lack of visitors.

Tourism Holdings and TOP 10 Holiday Parks are supporting Canterbury cricket umpire Eugene Sanders’ 1,400km charity e-scooter trip of the Tour Aotearoa Trail.

THL’s CEO Grant Webster says the STAPP is doing exactly what it intended – protecting jobs that were marginal and at risk.

The operator’s NZ tourism group saw revenue dive to $2.6m for the six months to December 2020.