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CHH/CNIFP Extension To June 15

Commission to decide on CHH's proposed acquisition of Central North Island Forest Partnership on June 15

The Commerce Commission is due to make its decision on Carter Holt Harvey Limited's (CHH) application for clearance to acquire the Central North Island Forest Partnership on June 15.

The Director of the Commission's Business Competition Branch, Geoff Thorn, said that this is a six working-day extension from the expected date of Thursday, June 7.

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

CHH made its application before the Commerce Act was amended. At that time the Act prohibited business acquisitions that resulted in dominance being acquired or strengthened in any market. All applications made before the amendment are being investigated using the dominance test.

The amendments, which came into force on May 26, prohibit business acquisitions that substantially lessen competition in a market. All applications made on or after May 26 will be investigated using the substantial lessening test.

Ends


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