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Pyne Gould Guinness, Wrightson cleared to merge


Media Release

Issued 31 August 2005/ no 021

Pyne Gould Guinness and Wrightson cleared to merge

The Commerce Commission has cleared the application of Wrightson Limited (Wrightson) and Pyne Gould Guinness (PGG) to merge.
Commission Chair Paula Rebstock said the Commission has analysed the implications of the merger on the agricultural sector, and considered a number of issues in the areas of livestock trading services, wool services, retail supplies and grains and seeds.

“Having regard to the degree of existing and potential competition in each of the relevant markets, the Commission is satisfied that the proposed merger would not have, or would not be likely to have, the effect of substantially lessening competition,” Ms Rebstock said.

PGG is based in Dunedin, and is a rural servicing provider to the South Island agricultural sector and is listed on the New Zealand Stock Exchange. It has limited involvement in the North Island, and a small presence in Australia. Its core business activities include rural supplies, financial services, wool services, livestock trading services and seed and grain products.

Wrightson is a national provider of goods and services to the agriculture sector. Its core services include rural and horticultural supplies, wool services, livestock trading services, seed and grain products, agricultural research, insurance broking services, real estate services and financial services.

A public version of the written decision will shortly be available on the Commission’s website, www.comcom.govt.nz under Public Registers.

ENDS

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