P&O Cold Logistics applies for clearance

Media Release

Issued 30 January 2000/7

P&O Cold Logistics applies for clearance to acquire some of Eskimo Logistics assets

The Commerce Commission has received an application from P&O Cold Logistics (NZ) Limited for clearance for a possible acquisition of some of the assets of Eskimo Logistics Group Limited and ELG Properties Limited. The possible acquisition does not include the freight forwarding and cold storage businesses of Eskimo's subsidiary Eskimo International Ltd.

P&O Cold Logistics is involved in the provision of refrigerated warehousing and distribution services to suppliers of perishable goods, in particular food retailers and manufacturers.

The principal business of Eskimo is the provision of refrigerated distribution and ancillary services to primary producers and wholesalers and to manufacturers, retailers and marketers of perishable food products.

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. A clearance, if given, protects an acquisition from court action under the Act.

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 February 12.

The public version of P&O Cold Logistics' application is available from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.

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

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