THL Group (Australia) Pty Ltd - Apollo Tourism & Leisure Ltd

Acquirer(s)

  • THL Group (Australia) Pty Ltd

Target(s)

  • Apollo Tourism & Leisure Ltd

Summary

Tourism Holdings Limited (THL) and its wholly owned subsidiary THL Group (Australia) Pty Ltd proposes to acquire Apollo Tourism & Leisure Ltd (Apollo).

THL and Apollo overlap in the rental, sale and manufacturing of recreation vehicles.

The ACCC commenced its public review of the Proposed Acquisition on 28 January 2022.

On 28 April 2022, the ACCC published a Statement of Issues outlining preliminary competition concerns in relation to the Proposed Acquisition.

On 6 September 2022, the ACCC commenced market consultation on a draft proposed section 87B undertaking.

On 29 September 2022, the ACCC decided to not oppose THL's proposed acquisition of Apollo, subject to the ACCC accepting a court-enforceable undertaking that requires Apollo to divest a large proportion of its motorhome fleet.

Market definition

The ACCC will publish a Public Competition Assessment in due course.

Competition analysis

The ACCC will publish a Public Competition Assessment in due course.

Market inquiries

Statement of issues

Undertakings

Timeline

DateEvent
28/01/2022ACCC commenced review under the Merger Process Guidelines.
18/02/2022Closing date for submissions.
30/03/2022Former provisional date for announcement of findings (7 April 2022) delayed to allow parties more time to provide additional information.
28/04/2022ACCC published a Statement of Issues outlining preliminary competition concerns.
19/05/2022Closing date for submissions relating to Statement of Issues.
01/07/2022Timeline suspended pending receipt of further information. Former proposed decision date for announcement of ACCC's findings (21 July 2022) is delayed. ACCC will announce a proposed decision date in due course.
06/09/2022ACCC commenced market consultation on proposed s87B undertaking. ACCC timeline recommenced.
13/09/2022Closing date for submissions relating to the draft proposed divestment undertaking.
29/09/2022ACCC announced it would not oppose the proposed acquisition, subject to a section 87B undertaking accepted by the ACCC.