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

 


Commerce Commission considers rendering merger

Commerce Commission considers rendering merger


The Commerce Commission has received an application for a newly formed company, Tuakau Proteins Ltd, to acquire certain animal rendering business interests from Graeme Lowe Protein Ltd, and Kakariki Proteins Ltd.

Tuakau Proteins will acquire Graeme Lowe Protein’s bovine rendering plant and equipment situated at Hawera and Tuakau. In addition, Tuakau Proteins will acquire 50% of the shares in Kakariki Proteins from Mr Stephen Dahlenburg.

Tuakau Proteins will be 50.1% owned by Graeme Lowe Protein and 49.9% owned by Glenninburg Holdings Ltd. Glenninburg Holdings will be 75% owned by Taranaki By-Products limited and 25% owned by Mr Dahlenburg.

All of the merging parties are active in the rendering industry, which involves the processing of waste animal material into usable products such as animal food supplements, edible and inedible tallows, and meat and bone meals.

A public version of the application will be available shortly on our Clearances Register.

Background
Assessing an application for a merger or acquisition

When considering a proposed merger (or amalgamation), 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 Clearances page.


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news