Tourism Holdings to merge NZ rentals with KEA, United Campervans for $69.5 million

Sun, 02 Sep 2012

By Hannah Lynch Sept. 3 (BusinessDesk) - Tourism Holdings, the campervan rental company, will merge its New Zealand business with KEA Campers and United Campervans for $69.5 million of cash, shares and debt in a deal that will double per-share earnings in 2014. The deal is subject to 50 percent shareholder approval and will see the Auckland-based company's assets rise to about $350 million from $280 million. United Campervans principal Kay Howe will join Tourism Holdings board as an executive director to help with the integration. Grant Br...

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