Comerce Com. view on RAL/Turoa likely on August 28
Commerce Commission's preliminary view on RAL/Turoa likely on August 28
Media Release 2000/69
The Commerce Commission is likely to give its preliminary view on Ruapehu Alpine Lifts Limited’s (RAL) application for authorisation to acquire Turoa Ski Resort Limited (in receivership) on August 28.
RAL and Turoa Ski Resort own the only
two major ski fields in the North Island, Whakapapa and
Turoa.
Commission Chair John Belgrave said that the
Commission has released its indicative timetable for making
its decision. The indicative timetable is:
August 28
Commission to publish draft determination giving its
preliminary view that, based on information then available,
it would or would not authorise the proposal. The draft
determination will give interested parties a clear
indication of what the Commission sees as the key issues and
where the Commission wants further information.
By September 11
Interested parties to make submissions on the draft determination.
By September 18
Experts employed by interested parties to make their submissions.
By October 6
Conference, if one is to be held. Only interested parties and the Commission can participate at a conference, but the public and media can attend to observe and report.
October 24
Commission releases its final decision.
Background
An authorisation is, in effect, an
exemption from the Commerce Act.
The Act prohibits
business acquisitions that result in dominance being
acquired or strengthened in any market. In June last year
the Commission declined to clear RAL to acquire Turoa
because of dominance concerns.
On July 31 this
year, RAL applied for an authorisation. The Commission can
authorise an otherwise prohibited business acquisition if it
is satisfied that public benefits from the acquisition
outweigh its detriments to competition.
The Act
gives the Commission 60 working days in which to make its
decision, but does allow for extensions of time if
necessary. Working day 60 will be October 24.
Media contact: Communications Officer Vincent Cholewa
Phone work (04) 498 0920