Tourism Holdings to buy El Monte US campervan business for US$65.3 million

Tue, 20 Dec 2016

By Tina Morrison Dec. 21 (BusinessDesk) - Tourism Holdings will pay US$65.3 million for US campervan rental and sales business El Monte Rents to expand its operations in the world's largest recreational vehicle market. The acquisition, for an enterprise value of $93.5 million including transaction costs, will be funded through $82.2 million of debt from its existing lenders and through the issue of 3.4 million Tourism Holdings shares, the Auckland-based company said in a statement. Tourism Holdings will also invest US$6 million in North A...

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