Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Comerce Com. view on RAL/Turoa likely on August 28

Commerce Commission's preliminary view on RAL/Turoa likely on August 28

Media Release 2000/69

The Commerce Commission is likely to give its preliminary view on Ruapehu Alpine Lifts Limited’s (RAL) application for authorisation to acquire Turoa Ski Resort Limited (in receivership) on August 28.

RAL and Turoa Ski Resort own the only two major ski fields in the North Island, Whakapapa and Turoa.

Commission Chair John Belgrave said that the Commission has released its indicative timetable for making its decision. The indicative timetable is:

August 28
Commission to publish draft determination giving its preliminary view that, based on information then available, it would or would not authorise the proposal. The draft determination will give interested parties a clear indication of what the Commission sees as the key issues and where the Commission wants further information.

By September 11

Interested parties to make submissions on the draft determination.

By September 18

Experts employed by interested parties to make their submissions.

By October 6

Conference, if one is to be held. Only interested parties and the Commission can participate at a conference, but the public and media can attend to observe and report.

October 24

Commission releases its final decision.


An authorisation is, in effect, an exemption from the Commerce Act.

The Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. In June last year the Commission declined to clear RAL to acquire Turoa because of dominance concerns.

On July 31 this year, RAL applied for an authorisation. The Commission can authorise an otherwise prohibited business acquisition if it is satisfied that public benefits from the acquisition outweigh its detriments to competition.

The Act gives the Commission 60 working days in which to make its decision, but does allow for extensions of time if necessary. Working day 60 will be October 24.

Media contact: Communications Officer Vincent Cholewa

Phone work (04) 498 0920

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news