The Commission received a clearance application from Taranaki By-Products (TBP) for it, or a related company, to increase shareholdings in three joint ventures with Lowe Corporation. On 16 July 2021 TBP varied its application to only apply to the proposed increase in its shareholding in Tuakau Proteins Limited. On 14 December 2021 TBP withdrew its application.
Administrative clock stopped (per Mergers and Acquisitions Guidelines at [6.32]) while the merger parties work through issues arising out of a fire at Tuakau Proteins Limited’s Tuakau plant