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Port of Tauranga and Toll apply for clearance

Port of Tauranga and Toll apply to Commission for clearance

The Commerce Commission has received an application from Port of Tauranga Limited and Toll Limited seeking clearance of a proposed acquisition by a yet to be formed joint venture company to acquire The Owens Cargo Company Limited, Toll Logistics (NZ) Limited and Leonard and Dingley Limited.

The new joint venture company would be 50% owned by Port of Tauranga and 50% owned by Toll.

Port of Tauranga is a Tauranga based port company listed on the New Zealand Stock Exchange. Its main activities are the ownership and operation of the wharf infrastructure and marine services at the Port of Tauranga.

Owens Cargo is a wholly-owned subsidiary of Port of Tauranga. Its main services are log and general cargo marshalling, inventory management, storage, consolidation and container handling.

Toll is owned by Toll Group (NZ) Limited, which is wholly-owned by Toll Holdings Limited (Australia). In NZ, Toll has an integrated national network of rail, road and sea freight transportation, distribution and logistics management services, and interisland and urban passenger services.

Toll Logistics is a wholly-owned subsidiary of Toll. Its services include stevedoring and marshalling services in the ports of Whangarei, Auckland, Tauranga, New Plymouth, Gisborne, Napier, Wellington and Lyttleton.

Leonard & Dingley is also a wholly-owned subsidiary of Toll, and specialises in stevedoring services at the Port of Auckland.

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

A public version of the application will shortly available on the Commission’s website under Adjudication.

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