New Zealand's Tourism Holdings jumps on merger clearance by NZCC

Tourism Holdings

23/09/2022 05:20

** Shares of New-Zealand's Tourism Holdings  THL.NZ  rise as
much as 3.4% to NZ$2.74
    **Stock set to gain most since Sept. 13, if gains hold
    ** Surge comes after the global tourism operator receives
clearance from the New Zealand Commerce Commission(NZCC) for
merger with Australia-based tourism leisure company Apollo
Tourism & Leisure  ATL.AX   urn:newsml:reuters.com:*:nNZW3BnDzj
    ** Earlier in the day, co and Apollo entered into an
agreement to sell certain ATL assets to a wholly owned
subsidiary of JUCY Group for an indicative purchase price of
approximately NZ$45 million ($26.25 million) urn:newsml:reuters.com:*:nNZWGwSHG
    ** Co adds that the divestment remains under review by the
Australian Competition and Consumer Commission (ACCC), whose
decision is expected on Sept 29
    ** More than 259,000 shares change hands vs 30-day average
volume of 71,000 shares 
    ** Co eyes first weekly jump since Aug. 26, if gains hold
    ** Stock has fallen 10.2% this year, as of last close
($1 = 1.7141 New Zealand dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))