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

 

Bungy NZ receives clearance to acquire Pipeline


Media Release

Issued 24 July 2003-04 / 011

Bungy New Zealand receives Commerce Act clearance to acquire Pipeline Bungy

The Commerce Commission has cleared Bungy New Zealand Limited to acquire the Pipeline Bungy business operating in Skippers Canyon, Queenstown.

The Commission determined that Bungy is in the same market as other adventure tourism operators in the Queenstown Lakes region.

Commission Director of Business Competition Geoff Thorn said the number of competitors in the market, and the level of competition for the Queenstown tourist dollar, indicated that any change in the market post acquisition would be minimal.

"The Commission is satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition. The merged entity would be constrained by existing competition and potential competition from entry," said Mr Thorn.

Pipeline Bungy is currently owned and operated by Ngai Tahu Tourism Limited. Ngai Tahu Tourism provides several adventure tourism activities including; bungy jumping, jet boating and scenic trips by four-wheel drive. The acquisition relates only to the bungy segment of their business activities.

Bungy New Zealand acts as the parent and holding company for the AJ Hackett Bungy brand and operates in the adventure tourism market, specialising in bungy jumping activities in the Central Otago and Auckland regions.

A copy of the Commission's decision is available on the Commission's http://www.comcom.govt.nz/adjudication .

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>