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

 

Clearance application from ABF Overseas Limited

Commission receives clearance application from ABF Overseas Limited

The Commerce Commission has received an application from ABF Overseas Limited seeking clearance to acquire 100 percent of the shares of New Zealand Food Industries Limited, the New Zealand yeast business of Burns, Philp & Company Limited Group, from Burns Philp.

The proposed acquisition is part of a global acquisition that will have the effect of transferring the international yeast, bakery ingredients and US herbs and spices businesses of Burns Philp to ABF Overseas.

ABF Overseas is a wholly-owned subsidiary of ABF plc, an international food, ingredients and retail group based in the United Kingdom with manufacturing operations across Europe, North America, Asia, Australia and New Zealand.

New Zealand Food Industries is involved in the manufacture of fresh and specialty dry yeast products.

Burns Philp is incorporated in Australia and is a global yeast, food ingredients and consumer-branded food products manufacturer. In February 2003, the Commission cleared Burns Philp to acquire up to 100 percent of the share capital of Goodman Fielder Limited subject to the divestment of New Zealand Food Industries.

In considering this new 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 be available shortly on the Commission’s website under Adjudication.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. 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:


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>>