The Commerce Commission has received an application from GE Finance and Insurance Limited seeking clearance to acquire Pacific Retail's Finance Group, made up of the business and assets of Pacific Retail Services Limited; Pacific Retail Finance Limited; Montreal Financial Services Limited; and 100% of the shares of Simply Insurance New Zealand Limited.

GE Finance and Insurance Limited is part of the financial services division of the General Electric Co., which is listed on the New York Stock Exchange, the Boston Stock Exchange and some non-USA stock exchanges, including the London Stock Exchange. New Zealand subsidiaries of General Electric include: GE Capital (NZ) Limited; GE Capital Fleet Services New Zealand Limited; GE Commercial Finance NZ; GE Consumer Finance NZ; Wizard Financial Services; and Wizard Mortgage Corporation (New Zealand).

The Pacific Retail Group Limited is a New Zealand Stock Exchange listed investment company focused on the consumer sector. The Finance Group provides financial products including hire purchase finance to consumers via retailers, personal loans and consumer credit insurance, and retail debenture investments.

In considering the application, the Commission's role is to determine whether the acquisition has the effect of substantially lessening competition in a market.