The ACCC is seeking views on a proposed court-enforceable undertaking offered by THL and Apollo (ASX: ATL) in relation to THL's proposed acquisition of Apollo.
THL and Apollo are involved in the rental, sale and manufacture of recreational vehicles (RVs), such as motorhomes and campervans. THL and Apollo are the two largest suppliers of rental RVs in
On
In response to the ACCC's concerns, THL and Apollo have offered a court-enforceable undertaking that would require Apollo to divest around 80 per cent of its four to six berth motorhomes in its Australian rental fleet which include the newest motorhomes in the fleet and associated forward bookings.
The proposed undertaking also includes the divestment of leases for Apollo rental branches and depots in four locations, along with the Apollo Star RV motorhome brand.
The undertaking proposes that the divestiture assets will be sold to Jucy, which operates campervan rental businesses in
"In assessing THL & Apollo's proposed undertaking, we will need to be satisfied that it will effectively address our competition concerns as well as being structured in a way that is practical and effective," ACCC Deputy Chair
The ACCC invites submissions on the proposed undertaking by
"The release of an undertaking for public consultation is consistent with our usual practice and should not be interpreted as a signal that the ACCC will ultimately accept the undertaking and not oppose the transaction,"
More information, including a summary of the undertaking proposed by THL and Apollo, is available at:
Background
THL is a global tourism company, with headquarters in
Apollo is an Australian tourism leisure company listed on the ASX, with operations in
A motorhome 'berth' refers to a sleeping space available in a motor home. Release number: 124/22ACCC Infocentre:
Media enquiries: Media Team - 1300 138 917, media@accc.gov.au
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