Tourism Holdings Limited and Apollo Tourism & Leisure Limited have agreed to a merger which will result in Apollo shareholders owning approximately 27.5% and Tourism Holdings Limited shareholders owning approximately 72.5% of the merged entity.
The merger is subject to various conditions, including clearance from the New Zealand Commerce Commission and the Australian Competition and Consumer Commission, which are expected to announce decisions on 23 and 29 September 2022, respectively.
The merger ratio has been adjusted to reflect the increase in value in Apollo's Canadian properties since the original negotiation.
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