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Commerce Commission Clears Joint Venture Purchase

Commerce Commission Clears Joint Venture Purchase

The Commerce Commission has cleared Cavalier Corporation Limited and Norman Ellison Holdings Limited to form a joint venture company that will acquire the carpet businesses of Norman Ellison Holdings Limited and its subsidiaries.

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 any of the relevant markets.

Cavalier is listed on the New Zealand Stock Exchange. Based in Auckland, Cavalier manufactures and distributes broadloom carpets to domestic and export markets.

Norman Ellison is a privately owned and operated yarn and carpet manufacturer with tufting machinery and a yarn spinning plant located in Auckland. Norman Ellison manufactures a range of carpets marketed under the Norman Ellison carpets brand in New Zealand and Australia.

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

A public version of the written decision will be available as soon as practicable on the Commission's website, www.comcom.govt.nz, under Public Registers

ENDS

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