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

 

Statement of Preliminary Issues for Tronox/Cristal merger

Issued 7 July 2017
Release No. 2

Statement of Preliminary Issues released for Tronox/Cristal merger


The Commerce Commission has published a Statement of Preliminary Issues relating to Tronox Limited’s proposed acquisition of National Titanium Dioxide Company Ltd (Cristal).

The statement outlines the key competition issues that the Commission considers important in deciding whether or not to grant clearance to the proposed merger. A copy can be found on the Commission’sClearances Register.

The Commission invites interested parties to provide comments on the likely competitive effects of Tronox’s proposed acquisition of Cristal. Submissions can be sent by email to registrar@comcom.govt.nzwith the reference “Tronox/Cristal” in the subject line. Any submissions should be received by close of business on 21 July 2017.

The Commission has also updated its Clearances Register to reflect the indicative timeframe for its decision on the proposed merger. We have agreed with Tronox that we will make a decision by 21 August 2017. However, this date may change as our investigation progresses. In particular, if we need to test and consider the issues identified above further, the decision date is likely to extend.

Background

Tronox is a public limited company incorporated in Australia and is listed on the New York Stock Exchange. Tronox is an international chemical company active in mining, production and marketing of inorganic minerals and chemicals. It is seeking clearance to acquire the titanium dioxide (TiO2) pigment business of Cristal.

When considering a proposed merger, the Commission must determine whether the competition that would be lost with the merger would be 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

 

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO: