thl sells Roadpass Digital shareholding for NZ$23.9M

NZX-listed Tourism Holdings Limited (THL) has sold its minority shareholding interest in TH2connect, LLC (trading as Roadpass Digital) to joint venture partner THOR Industries for approximately NZ$23.9 million.

The sale includes a one-off gain on sale of approximately NZ$1.6 million against the carrying value of the shareholding, as well as a payment of approximately NZ$823,000 from THOR.

THL originally formed a partnership with THOR in 2018, and the sale marks a complete exit from the Roadpass Digital joint venture.

THL will continue to work with THOR on various industry opportunities and initiatives.