Australia's Apollo Tourism and Leisure jumps on merger clearance by ACCC

Tourism Holdings

29/09/2022 05:17

** Shares of Apollo Tourism and Leisure Ltd  ATL.AX  jump as
much as 12.3% to A$0.73, their highest since Oct. 26, 2021
    ** Co says Australian Competition and Consumer Commission
(ACCC) clears merger with NZ-based Tourism Holdings Ltd  THL.NZ 
    ** Shares of Tourism Holdings rise as much as 2.9% to
NZ$2.8, their highest since May 26
    ** Says ACCC confirms NZ$45 mln ($25.60 mln) sale of co's
Australian assets to car rental operator Jucy Group is
"acceptable remedy to address its competition concerns"
    ** Expects sale of Australian assets to complete by end of
this year
    ** More than 2.3 mln shares change hands, 13.7 times the
30-day average volume 
    ** As of last close, ATL up 4% YTD, while THL is down 7.8%
($1 = 1.7578 New Zealand dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))