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Southern Capital applies to acquire Hirepool

Media Release

Issued 24 February 02-03 / 116

Commerce Act: Southern Capital applies
to Commission to acquire Hirepool

The Commerce Commission has received a clearance application from Southern Capital Limited to acquire 100% of the shares in Hirepool Limited from Owens Group Limited.

Southern Capital is a publicly listed investment holding company. The majority of its holdings are in property investment and development. Southern Capital also holds, through its subsidiary CBD No.1 Limited, 50% of the shares in Hire Equipment Group Limited.

Owens Group is a publicly listed company whose core activity is transportation logistics. Ownership of Hirepool is through the subsidiary Owens Industrial Services Limited.

Hirepool provides general construction and building equipment hire services. It has 22 branches across the Auckland, Waikato, Wellington and Christchurch regions.

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

A public version of the application will be available shortly on the Commission’s website at www.comcom.govt.nz.

ENDS

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