Regulator to consider takeover bid

The Commerce Commission is considering an application from THL Group (Australia) seeking clearance to acquire 100 per cent of the shares in Apollo Tourism & Leisure.

The regulator gives clearance to proposed mergers if satisfied they are unlikely to have the effect of substantially lessening competition in a market.

NZX-listed THL, which is a subsidiary of Tourism Holdings, and Apollo both supply motorhome and campervan rental services in New Zealand to domestic and international tourists.

A spokesman for the commission says: “Relevant to the application, THL’s business in New Zealand includes the manufacture and sale of motorhomes, the rental of motorhomes and the operation of online peer-to-peer rental platforms, which enable private motorhome owners to offer their vehicles for rental. THL’s brands include Maui, Britz, Mighty, Mighway and ShareACamper.

“Apollo is a global tourism company, whose shares are listed on the Australian Securities Exchange. Its business in New Zealand includes the sale and rental of motorhomes. Apollo’s brands include Star RV, Apollo, Cheapa Campa and Hippie Camper. 

“Apollo is also a shareholder in Camplify Holdings, which operates an online peer-to-peer rental platform enabling private motorhome owners to rent out their vehicles.”

A public version of the clearance application will be available shortly on the commission’s case register.