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Commission Clears Solid Energy

Commission Clears Solid Energy

The Commission has cleared Solid Energy New Zealand Limited to acquire the entire share capital in Newvale Coal Co Limited.

Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

Solid Energy is a state-owned enterprise that has coal mining operations in the Waikato, the West Coast and in Southland. Solid Energy primarily supplies bituminous and sub-bituminous coal to both domestic and international customers.

Newvale Coal is a private mining company owned by the Highsted family. It operates the Newvale opencast mine, which is located in the Waimumu coal field in Southland. The Newvale mine supplies lignite coal primarily to customers in Southland.

A public version of the written decision will be available as soon as practicable on the Commission's website, www.comcom.govt.nz, under Public Registers.

ends

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