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Commission clears application by ORIX NZ

Commission clears application by ORIX NZ

The Commerce Commission has granted clearance for the acquisition of the business of Truck Leasing Limited (trading as Esanda FleetPartners) by ORIX New Zealand Limited.

The Commission Chair, Paula Rebstock, said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the national markets for the provision of fleet management services and the provision of fleet leasing services.

Background

ORIX New Zealand is a subsidiary of ORIX Australia Corporation Limited, which provides vehicle lease and fleet management services in Australia and New Zealand. ORIX Australia is in turn a subsidiary of ORIX Corporation Japan.

Esanda FleetPartners is the specialist vehicle lease and fleet management business of ANZ, with operations in both Australia and New Zealand. Truck Leasing Limited runs the New Zealand operations of Esanda FleetPartners and is primarily a provider of vehicle leases and fleet management services.

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

Ends

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