The Commerce Commission has received an application from Pacific Dunlop Holdings (NZ) Limited for clearance to acquire certain business assets from LWR Hosiery and Underwear Limited and R&WH Symington Limited.

The parties to the proposal are involved to varying extents in the manufacture and wholesale supply of men's and women's underwear and socks, bras, pantyhose, children's socks, and thermal underwear.

The Commission's Commerce Act Manager, Geoff Thorn, said that the Commission expects to make its decision by February 29.

Mr Thorn said that the Commission must determine what are the relevant markets for the proposal and what impact the acquisition would have on competition in those markets.

The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets. A clearance is granted if the Commission is satisfied that dominance would not be acquired or strengthened.

Media contact: Commerce Act Manager Geoff Thorn

Phone work (04) 498 0958, cellphone 021 630 466