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

 

Progressive/Woolworths Decision

Commission Releases Progressive/Woolworths Decision

www.comcom.govt.nz

The Commerce Commission has released the public copy of its decision to clear Progressive Enterprises Limited to acquire Woolworths (New Zealand) Limited, subject to divestment of supermarkets in Birkenhead and Te Awamutu.

The decision is available from the Commission's website, www.comcom.govt.nz, and can be down loaded to your computer.

The decision was made on July 13.

Progressive's application was one of 11 the Commission had on hand when amendments to the Commerce Act took effect on May 26. All 11 of those decisions have since been made.

Before the amendments, the Act prohibited business acquisitions that resulted in dominance being acquired or strengthened in a market. The amended Act prohibits acquisitions that substantially lessen competition (SLC) in a market.

The Commission took the view that applications should be investigated under the law as it was when the applications were made. That is, the dominance test would apply to applications made before May 26, and SLC test would apply to those made on May 26 or later.

Foodstuffs (Auckland) Limited challenged this view, arguing that the SLC test applied to applications on hand at May 26. The Auckland High Court upheld the Commission's view.

Foodstuffs has appealed the High Court decision, and the appeal will be heard in the Court of Appeal on August 13.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO:

Māui And Hector’s Dolphins: WWF/Industry Counter Offer On Threat Management Plan

Forest & Bird says WWF-NZ's plan for protecting Māui dolphins is based on testing unproven methods on a species that is almost extinct, and is urging the Government to reject the proposal. More>>

ALSO: