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Central NI Forest Partnership Acquisition Approval

15 August 2002

Commerce Commission approves Fletcher Challenge Forests to acquire Central North Island Forest Partnership

The Commerce Commission has approved a clearance application from Fletcher Challenge Forests Limited (FCF) to acquire the assets of the Central North Island Forest Partnership (the CNIFP).

Chair John Belgrave said the Commission is satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition in a series of markets relating to the production of logs and wood products in central North Island.

FCF has been the manager of the CNIFP forestry assets since the commencement of its joint venture with China International Trust and Investment Corporation (CITIC) and continues to manage the assets at the present time.

The Commission's written decision on the application will be available soon on the Commission's website, www.comcom.govt.nz/adjudication.

Ends


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