Mico Wakefield applies to acquire MasterTrade Ltd.

Tuesday, 20 November 2001, 4:02 pm
Press Release: Commerce Commission

Mico Wakefield applies to acquire MasterTrade Limited

Media Release

Issued 20 November 2001/117

Mico Wakefield applies to the Commerce Commission to acquire MasterTrade Limited

The Commerce Commission has received an application from Mico Wakefield Limited for clearance under the Commerce Act to acquire up to 100% of the assets or shares of MasterTrade Limited.

Mico Wakefield is a wholly-owned subsidiary of Crane Group Limited, an Australian publicly listed company. It is a supplier of plumbing, electrical (trading as Corys Electrical) and metal products and has 87 branches throughout New Zealand.

MasterTrade is a wholly-owned subsidiary of electric and electronics group, PDL. It has 47 branches throughout New Zealand, which focus on electrical and plumbing products.

In considering the application, the Commission's role is to determine whether the merger has the effect of substantially lessening competition in the market.

A public version of Mico Wakefield's application is available on request from the Commerce Commission. Please contact Catherine Best, (04) 496-0953.

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