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Pacific Dunlop Applies For Clearance

Pacific Dunlop Applies For Clearance To Acquire Sara Lee Apparel

The Commerce Commission has received an application from Pacific Dunlop Holdings (NZ) Limited for clearance to acquire Sara Lee Apparel (NZ) Limited's New Zealand assets.

The Commission's Commerce Act Manager, Geoff Thorn, said that this is the New Zealand arm of a proposed Australasian acquisition.

Sara Lee's parent company, Sara Lee Corporation, is a substantial United States-based conglomerate, which is divesting its New Zealand and Australian apparel operations. In New Zealand, this includes hosiery and underwear businesses.

Pacific Dunlop acquires, manufactures and markets a wide range of industrial and consumer products, including underwear and hosiery. It is listed on the Australian Stock Exchange.

Mr Thorn said that the Commission must determine what markets are relevant to the proposal, and then assess what impact the proposal would have on competition in those markets.

The Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. The Commission will give a clearance if it is satisfied that dominance would not be acquired or strengthened.

The Commission has 10 working days in which to make its decision but the Act allows for extensions of time if necessary. Working day 10 will be March 15. Public copies of Pacific Dunlop's application are 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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