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

 

BOC NZ Applies For Clearance To Acquire ASCO Asset

BOC NZ Applies For Clearance To Acquire ASCO Assets

The Commerce Commission has received an application from BOC Gases New Zealand Limited for clearance to acquire the assets of ASCO Carbon Dioxide Limited's retail carbon dioxide business.

BOC NZ is involved in industrial and specialty gas markets and also distributes welding and safety equipment. It is ultimately owned by The BOC Group Plc, which is listed on the London and New York stock exchanges.

ASCO is involved in carbon dioxide markets and is owned by a Swiss company, ASCO Kohlensaeure AG.

The Commission's Commerce Act Manager, Geoff Thorn, said that the Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. Parties can apply for a clearance, which the Commission will give if it is satisfied that dominance is not acquired or strengthened.

The Act gives the Commission 10 working days in which to make its decision but allows for extensions of time if necessary. Working day 10 will be December 19.

Media contact: Commerce Act Manager Geoff Thorn Phone work (04) 498 0958, cellphone 021 661 104

Senior Advisor Communications Vincent Cholewa Phone work (04) 498 0920, home (04) 477 0039

Commission media releases can be viewed on its web site www.comcom.govt.nz

Regards Leo van Schyndel Records Officer Corporate Services Direct dial : (04) 498-0929 E-mail : leo.vanschyndel@comcom.govt.nz


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. 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:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

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>>