Tourism Holdings waiting to find out if it has a new owner

Tourism Holdings is waiting to find out whether it has a new owner, after a takeover bid for the company from MFS Living and Leisure closed on the weekend.

MFS Living's $2.80 a share bid was conditional on obtaining 90 per cent acceptance, and around noon on Friday it advised the stock exchange it had reached 74.4 per cent.

Today Tourism Holdings chief financial officer Ian Lewington said his company had yet to be told the final count of acceptances.

He had been advised the final count could take a day or two, he said.

MFS Living chief executive Marshall Vann said on Saturday that all acceptances would be returned should the offer fail to reach 90 per cent.

MFS would be left with a 10 per cent stake in Tourism Holdings bought from the Cushing family.

- NZPA