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

 

Shell Agrees To Commerce Commission’s Extension


31 October 2000

Shell Agrees To Commerce Commission’s November 17 Extension

Shell has agreed to the Commerce Commission’s request for a time extension to enable it to complete its review of Shell’s second application to acquire the Energy Division (FCE) of Fletcher Challenge Limited (FCL).

The Commission now has until November 17th to consider the clearance reapplication by Shell.

Shell New Zealand Chairman and Chief Financial Officer, Ed Johnson, said Shell would continue to make available all information which would assist the Commission in its decision making process.

“In agreeing to the time extension, Shell remains confident that it has supplied the Commission with information that demonstrates how consumer interests will be preserved and competition safeguards will be maintained. Shell will explore all avenues and legal options to ensure that the necessary clearance is given to allow the FCE transaction to be completed.”

Shell will not be commenting on the transaction or the clearance process in any way until the Commission has announced its decision on November 17.

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>