Statement of Issues released for Taranaki By-Products’ application to increase its shareholdings

The Commerce Commission has published a Statement of Issues relating to the clearance application from Taranaki By-Products Limited for it, or a related company, to increase its shareholdings in three joint ventures with the Lowe Corporation (Tuakau Proteins Limited, Hawkes Bay Protein Limited and Jackson Transport Limited).

The statement outlines the Commission’s potential competition issues with the acquisition following its initial investigation. A Statement of Issues is not a final decision and does not mean that the Commission intends to decline or clear the merger.

The Commission is seeking submissions from Taranaki By-Products and Lowe, and other interested parties on the issues raised in the Statement of Issues.

The Statement of Issues can be found on the case register.

Submissions can be sent by email to registrar@comcom.govt.nz with the reference ‘Taranaki By-Products/Lowe’ in the subject line.

Submissions are due no later than close of business 2 June 2021, with cross-submissions due no later than close of business 9 June 2021.

The Commission is currently scheduled to make a decision on the application by 24 June 2021. However, this date may be extended.

Background

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.

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