thl and ATL enter agreement for proposed divestment to Jucy

Tourism Holdings Limited (thl) and Apollo Tourism & Leisure Ltd (ATL) have entered into an agreement to sell certain ATL assets to a subsidiary of JUCY Group (2022) Limited (Jucy) for an indicative purchase price of NZ$45 million.

The divestment is subject to confirmation from the New Zealand Commerce Commission and the Australian Consumer and Competition Commission of its satisfaction with thl's proposed merger with ATL, and clearance being provided on that basis.

The sale is expected to complete immediately prior to completion of the proposed merger with ATL and is additionally subject to refinancing, approval from the Australian Foreign Investment Review Board and requisite approval from ATL shareholders and the Supreme Court of Queensland.

Both the merger and divestment are expected to be announced on Friday 23 September and Thursday 29 September respectively.