THL sells out of boat, bus operations
AUCKLAND – Tourism Holdings Limited (THL) has conditionally sold its 49 percent shareholdings in InterCity Holdings Limited for NZ$9.5 million to its joint venture partners.
Grant Webster, CEO for THL, said that whilst the business, which
operates the Fullers & Kings tourist boat operations in the Bay of Islands and the InterCity bus network and Great Sights / Newmans coach networks, is an excellent business, it was not core to THL’s operations and the sale provides the business a single committed shareholder.
THL will book a loss on the sale of its shareholding in the order of $3.7m which will be included in the December half-year results.
The proceeds from the share sale will be used to reduce debt.
Meanwhile, THL has completed a five-year extension of its licence to operate the Waitomo Glowworm Caves from 2022 until 2027 alongside the owners, the Ruapuha Uekaha Hapu Trust, and the Department of Conservation.
Ian Jarrett
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Airbnb eyes a loyalty program but details remain under wraps