Commission receives clearance application from Fletcher Challenge Forests
Published11 Jul 2002
The Commerce Commission has received a clearance application from Fletcher Challenge Forests Limited (FCF) to acquire most of the assets of the Central North Island Forest Partnership (the CNIFP).
The assets include certain land assets, rights under Crown forestry licences, and 100% of the shares currently owned by China International Trust and Investment Corporation (CITIC) and FCF in Red Stag Wood Products Limited, and its subsidiary Red Stag Mouldings Limited, both of which are in receivership.
FCF has been the manager of the CNIFP forestry assets since the commencement of its joint venture with CITIC and continues to manage the assets at the present time.
In considering the application under the Commerce Act, the Commission's role is to determine whether the merger has the effect of substantially lessening competition in any market.
A public version of FCF's application is available on request from the Commerce Commission. Please contact Catherine Best, (04) 924 3654.
Media contact: Geoff Thorn, Director, Business Competition Branch
