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Taranaki By-Products Withdraws Application To Increase Its Shareholding In Tuakau Proteins Limited
Taranaki By-Product Limited has formally withdrawn its application to the Commerce Commission for clearance for it, or a related company, to increase its shareholding in Tuakau Proteins Limited.
Subsequent to the application being filed, a fire destroyed Tuakau Proteins’ rendering plant in Tuakau. The parties have advised the Commission that they are no longer intending to proceed with the arrangements for which clearance was sought and the application has accordingly been withdrawn.
The Commission had been scheduled to make a decision on Taranaki By-Products’ clearance application by 24 December 2021.
Background
Taranaki By-Products and Tuakau Proteins both own operations in the North Island that render animal materials into finished products such as meat and bone meal and tallow. Tuakau Proteins’ rendering plant in Tuakau has been inoperable since 23 March 2021 due to a fire.
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
Further information explaining how the Commission assesses a merger application is available on our website.
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