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Westpac and MiTek withdraw clearance applications

Westpac and MiTek withdraw clearance applications

The Commerce Commission has received formal notification from Westpac Banking Corporation and Mitek New Zealand Limited that they have withdrawn their separate applications for business acquisition clearances under the Commerce Act.

Westpac, through Westpac Holdings-NZ-Limited, has withdrawn its application to acquire 100% of the shares in NBNZ Holdings Limited, the New Zealand holding company of The National Bank of New Zealand Limited and its controlled subsidiaries (National) from Lloyds TSB Bank plc.

MiTek has withdrawn its application to acquire the assets of Pryda New Zealand and Reid New Zealand. MiTek is part of an international group of companies that manufactures and distributes fasteners, bracing, brackets, special structural products and machinery.

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