CHH/CNIFP extension

Wednesday, 16 May 2001, 2:49 pm
Press Release: Commerce Commission

Commission To Decide On CHH's Proposed Acquisition Of Central North Island Forest Partnership On May 30

The Commerce Commission is now due to make its decision on Carter Holt Harvey Limited's (CHH) application for clearance to acquire the Central North Island Forest Partnership on May 30.

The Director of the Commission's Business Competition Branch, Geoff Thorn, said that this is a 10 working-day extension from the expected date of today, May 16. This is the second extension agreed to. The original date for a decision was April 17.

Mr Thorn said that the Commission needed more time to gather and assess information, and CHH has agreed to the extension.

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.

Ends

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