Campervan rental group Apollo Tourism and Leisure intends selling $39 million of assets including 310 motorhomes and the Star RV brand to rival rental vehicle group Jucy in an attempt to win over competition regulators in Australia and New Zealand for a broader merger deal with another player.
Apollo shares jumped 26 per cent to 65¢ on Friday after it put a price tag on the Jucy side deal on Friday in an announcement to the ASX.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
