The Commerce Commission will hold a conference this week to discuss matters relating to Cavalier Wool's application seeking authorisation to acquire the assets of and/or shares in New Zealand Wool Services International.

The conference will be held at The Mercure Hotel, Wellington, 345 The Terrace, Wellington on Wednesday 4 May and Thursday 5 May 2011.

The agenda and notification of the conference, and submissions received so far, can be accessed on the Commission's website at www.comcom.govt.nz/cavalier-wool-holdings-limited-new-zealand-wool-services-international-limited

The conference is public. All persons wanting to attend the conference are asked to contact registrar@comcom.govt.nz if they have not already advised the Commission. An additional confidential session for industry experts and counsel will be held on the morning of Friday 6 May 2011.

Background

On 9 February 2011, the Commerce Commission registered an application from Cavalier Wool Holdings Limited seeking authorisation under section 67 of the Commerce Act 1986 to acquire control over New Zealand Wool Services International Limited's (NZWSI) wool scouring business. Cavalier Wool has sought authorisation to acquire up to 100% of:

  • NZWSI 's wool scouring assets (being the wool scouring assets and stock located at Whakatu and Kaputone and 50% of the shares in Lanolin Trading Co Limited) or any interconnected body corporate of NZWSI; and/or
  • the shares in NZWSI.

The Commission released a Draft Determination on 13 April 2011, outlining its preliminary views on this matter and has since published submissions on various matters from interested parties.

At this stage of the proceedings, the Commission intends to deliver its final determination on the application on or before 31 May 2011.