NZ's Tourism Hldgs sells stake in InterCity

WELLINGTON, Dec 17 (Reuters) - New Zealand tourism operator Tourism Holdings Ltd (THL.NZ: Quote, Profile, Research) said on Wednesday it had sold its 49 percent stake in bus and ferry operator InterCity Holdings to the other partner.

It said it had sold its stake for NZ$9.5 million ($5.6 million), because it was not regarded as core business.

It said it would book a loss of around NZ$3.7 million on the sale, which would be reflected in the half year result.

Shares in Tourism Holdings closed at NZ$0.61. ($1=NZ$1.75)