Tourism Holdings executes agreement for NZ$3.10 offer
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- Tourism Holdings has executed a confidentiality agreement with a consortium comprising BGH Capital and the Trouchet family.
- The announcement granted the consortium due diligence access for a potential all-cash takeover offer.
- The company aims to assess the proposal alongside an additional non-binding offer from a separate strategic buyer.
Tourism Holdings (ASX:THL) has executed a confidentiality agreement to grant due diligence access to a consortium bidding at least NZ$3.10 per share in cash.
The agreement follows the company's initial decision on June 12 to open its books to the bidding group.
The consortium, which includes BGH Capital and the family interests of Luke and Karl Trouchet, will now begin its due diligence investigations.
The company noted that the current proposal follows a revised non-binding indicative offer originally submitted on May 29.
Following the announcement, the Tourism Holdings share price was unchanged at $2.40.
The board is also evaluating an alternative non-binding indicative offer received from a separate strategic buyer on June 25.
Tourism Holdings stated that no definitive decision has been made to proceed with any transaction at this stage.
