The ACCC is seeking views on a planned court-enforceable undertaking offered by THL and Apollo (ASX: ATL) concerning THL’s proposed acquisition of Apollo (ASX: ATL).
THL and Apollo are into the business of rental, sale and manufacture of recreational vehicles like motorhomes and campervans.
On 28 April 2022, the ACCC via its media release pointed out preliminary competition concerns which will remove THL’s closest and largest competitor in a market where new entry or expansion seem doubtful.
In response to ACCC’s concern, THL and Apollo provided a court-enforceable undertaking under which Apollo will divest 80% of four to six berth motorhomes in its Australian rental fleet. Other than this, proposed undertaking includes the divestment of leases for Apollo rental branches and depots in four places, together with the Apollo Star RV motorhome brand. The divestiture assets will be sold to Jucy, which runs campervan rental businesses in Australia & New Zealand.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
