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Commission To Decide On CHH's Proposed Acquisition

Issued 15 June 2001/72

Commission To Decide On CHH's Proposed Acquisition Of Central North Island Forest Partnership On June 21

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 21.

The Director of the Commission's Business Competition Branch, Geoff Thorn, said that this is a four working-day extension from the expected date of Friday, June 15.

Mr Thorn said that the applicant, CHH requested the extension in time, and the Commission has agreed to it.

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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