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


Bluescope Steel seeks clearance to acquire certain assets

Bluescope Steel seeks clearance to acquire certain assets of Pacific Steel Group

Issued 24 February 2014

Release No. 79

The Commerce Commission has received an application from Bluescope Steel (NZ) Ltd (Bluescope) seeking clearance to acquire some of the assets of Pacific Steel Group’s (PSG) steel production business.

Under the proposed acquisition, Bluescope would acquire PSG’s rolling and wire mill manufacturing operations in New Zealand, along with its long steel distribution, marketing and sales operations.

Bluescope is a wholly owned subsidiary of Bluescope Steel Ltd, an ASX listed company. Bluescope Steel Ltd’s New Zealand operations include steel production and iron sand mining. They produce a range of steel products including slab, hot and cold rolled coil, welded steel beams, pipes and hollow sections.

PSG is a business unit of Fletcher Steel Limited, a wholly owned subsidiary of Fletcher Building Limited. In New Zealand, PSG comprises three businesses: Pacific Steel, Pacific Wire, and Fletcher Pacific Fiji. PSG also produces a range of steel products including billet, reinforcing bar and coil, wire, rod bar and rod coil.
A public version of the application is available on our Clearances Register.


Assessing an application for a merger or acquisition

When considering a proposed merger (or joint venture), the Commission must decide whether the competition that is lost in a market when two businesses merge is substantial. We will give clearance to a proposed merger only if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.

A fact sheet explaining how the Commission assesses a merger application is available on the Commission’s website at


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news