New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Tourism Holdings’ (THL) is several big steps closer to acquiring Apollo Tourism and Leisure (ATL)</li><li>The NZ Commerce Commission (ComCom) has cleared the acquisition after a lengthy process, albeit conditional on the part disposal of certain ATL assets in New Zealand to smaller competitor, Jucy</li><li>We continue to view the deal as positive for THL in light of cost synergies, scale benefits in Australasia, reduced reliance on New Zealand activities, Canadian diversification, and a larger stake in peer-to-peer platform Camplify</li></ul>

Tourism Holdings’ (THL) is several big steps closer to acquiring Apollo Tourism and Leisure (ATL)The NZ Commerce Commission (ComCom) has cleared the acquisition after a lengthy process, albeit conditional on the part disposal of certain ATL assets in New Zealand to smaller competitor, JucyWe continue to view the deal as positive for THL in light of cost synergies, scale benefits in Australasia, reduced reliance on New Zealand activities, Canadian diversification, and a larger stake in peer-to-peer platform Camplify

Tourism Holdings: Countdown to Apollo Launch