Tourism Holdings in talks to sell units including Kiwi Experience
By Paul McBeth
Oct. 23 (BusinessDesk) - Tourism Holdings is in talks to sell some of its New Zealand businesses, including the Kiwi Experience.
Chairman Rob Campbell said the rental campervan operator has been in talks with third parties over the potential sale of bus tour operator Kiwi Experience and some of its Discover Waitomo businesses. They include Black Water Rafting, the Ruakuri caving operation and Waitomo Homestead, but not the Waitomo Glow Worms Caves unit.
The talks are incomplete and Tourism Holdings expects to provide more details in November or December.
The company made the announcement over fears confidentiality had been breached about the possible sale, Campbell said.
The company is expanding its investment in its TH2 joint venture with recreational vehicle maker Thor Industries to develop a single platform to connect a wide range of services in the growing markets for RVs here, in Australia and in the US.
Tourism Holdings shares rose 0.4 percent to $5.15 in a broadly weaker market.