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

 

CHH Applies For Clearance To Acquire Partnership

CHH Applies For Clearance To Acquire Central North Island Forest Partnership

The Commerce Commission has received an application from Carter Holt Harvey Limited (CHH) for clearance to acquire the Central North Island Forest Partnership (CNIFP).

The Commission's Commerce Act Manager, Geoff Thorn, said that CNIFP is owned by Fletcher Challenge Forests Limited and Citic, which is an investment branch of the Chinese government.

CHH is one of the largest forest products companies in the Southern hemisphere, with extensive forestry and forest products interests in New Zealand.

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 April 17.

Public copies of CHH's application are available from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO: