Ngāi Tahu Tourism has formally withdrawn its application to the Commerce Commission for clearance to acquire the tourism jet boating business trading as "KJet" and related assets (including 100% of the shares in Time Tripper Limited) from Kawarau Jet Services Holdings Limited, KJet Limited, and Time Tripper Limited.
The Commission had recently agreed with Ngāi Tahu Tourism an extension until 26 March 2024 by which to make a decision.
The Commission's case register will be updated in due course.
Background
Ngāi Tahu Tourism and KJet both supply jet boating services to tourists in Tāhuna (Queenstown).
Ngāi Tahu Tourism is a wholly-owned subsidiary of Ngāi Tahu Holdings Corporation Limited, which is itself owned by the Ngāi Tahu Chartitable Trust. Ngāi Tahu Tourism operates tourism businesses across both Te Ika a Māui (the North Island) and Te Waipounamu (the South Island). Relevant to the application, Ngāi Tahu Tourism operates the Shotover Jet and Dart River Adventures jet boating businesses in Tāhuna (Queenstown) on the Kimiākau (Shotover River) and Dart River.
KJet and Time Tripper Limited are owned by Shaun Kelly and the Skeggs Group. Combined, these businesses operate the KJet tourism jet boating business and the Time Tripper Underwater World experience in Tāhuna (Queenstown). KJet operates its jet boats on the Kawarau River and the Kimiākau (Shotover River).
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.
