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

 

BOC NZ Applies For Clearance To Acquire ASCO Asset

BOC NZ Applies For Clearance To Acquire ASCO Assets

The Commerce Commission has received an application from BOC Gases New Zealand Limited for clearance to acquire the assets of ASCO Carbon Dioxide Limited's retail carbon dioxide business.

BOC NZ is involved in industrial and specialty gas markets and also distributes welding and safety equipment. It is ultimately owned by The BOC Group Plc, which is listed on the London and New York stock exchanges.

ASCO is involved in carbon dioxide markets and is owned by a Swiss company, ASCO Kohlensaeure AG.

The Commission's Commerce Act Manager, Geoff Thorn, said that the Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. Parties can apply for a clearance, which the Commission will give if it is satisfied that dominance is not acquired or strengthened.

The Act gives the Commission 10 working days in which to make its decision but allows for extensions of time if necessary. Working day 10 will be December 19.

Media contact: Commerce Act Manager Geoff Thorn Phone work (04) 498 0958, cellphone 021 661 104

Senior Advisor Communications Vincent Cholewa Phone work (04) 498 0920, home (04) 477 0039

Commission media releases can be viewed on its web site www.comcom.govt.nz

Regards Leo van Schyndel Records Officer Corporate Services Direct dial : (04) 498-0929 E-mail : leo.vanschyndel@comcom.govt.nz


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Air New Zealand: Relaunching 14 International Routes In 16 Days

Air New Zealand is gearing up for the busiest July in two years with the relaunch of 14 international routes in 16 days... More>>



Inland Revenue: Update On Hidden Economy Real Estate Campaign

The Inland Revenue campaign focussing on the real estate sector has resulted in a drop in the amount of private expenses claims being made... More>>



Westpac: Consumer Confidence Plummets To Record Lows As Financial Pressures Mount

The Westpac McDermott Miller Consumer Confidence Index dropped sharply in the June quarter, falling 13 points to a level of 78.7... More>>


BusinessNZ: NZ Economy - Prevailing Headwinds
The latest BusinessNZ Planning Forecast reveals business and consumer confidence is low, with factors at home and abroad hampering our recovery... More>>


Specialist Cheesemakers Assn: Shared Cheese Heritage Should Be Shared Not Stripped

As the EU-New Zealand FTA advances New Zealand cheesemakers are urging both Governments to recognise and celebrate the shared cheesemaking heritage that exists between European countries and New Zealand... More>>

Download Weekly: $60 million for more rural connections
David Clark, the digital economy and communications minister, announced the government will spend $60 million to further improve rural connectivity over the next few years... More>>