File photo. Photo: 123RF
Campervan operator Tourism Holdings (THL) has announced the completion of its merger with Australia's Apollo Tourism & Leisure (ATL).
It said the scheme of arrangement - approved by the Supreme Court of Queenland - was implemented on Thursday, which meant THL and its controlled entities held 100 percent of shares in ATL.
As part of the deal, certain ATL assets were sold to Jucy Group for $45 million, which has also been completed today.
The divestment addressed concerns from competition regulators across both sides of the Tasman.
In an announcement to the market, THL said each ATL shareholder has been issued one THL share for every 3.21 ATL shares held by them at 23 November, which was the record date for the scheme.
THL shares will commence trading on the Australian Securities Exchange tomorrow, under the name Tourism Holdings Rentals Limited.
The deal has been a year in the making, with the first announcement dating back to December last year.