Tourism Holdings grants due diligence to BGH Capital over takeover bid

The news: The board of New Zealand tourism company Tourism Holdings has granted due diligence access to a consortium led by BGH Capital and the family interests of Luke and Karl Trouchet, following an all-cash offer of NZD3.10 ($2.55) per share announced in May.

The context: Dual-listed Tourism Holdings, New Zealand’s leading RV rental operator, said the granting of due diligence access does not constitute a recommendation by the board, and no decision has been made to proceed any transaction.

ASX-listed shares in the company last closed at $2.40 per share, having climbed 17% over the last 12 months.

Melbourne-based private equity firm BGH ended talks over a potential takeover of ASX-listed travel agency Webjet Group in February after a period of due diligence.