Commerce Commission Chair John Belgrave said that significant interest has been shown in the Commission's draft determination on Ruapehu Alpine Lifts Limited's (RAL) application for authorisation to acquire Turoa Ski Resort Limited (in receivership).
Mr Belgrave said that 257 submissions have been received, nine from interested parties and 248 from individuals.
The Commission is now circulating public copies of all the submissions to the interested parties, who will then be able to respond to each others' submissions and provide further information at a conference in Wellington on October 18-19.
The Commission will draw together the information from RAL's application, the Commission's investigation, the submissions and the conference to make its final decision on November 7.
Background
Interested parties
The interested parties who have made submissions are: RAL, Cardrona Ski Resort Limited, New Zealand Ski Council, Ngati Rangi Trust, Ohakune 2000, Ruapehu District Council, Sutton McCarthy Limited, Tongariro/Taupo Conservation Board and Turoa Assets Limited.
The Commission's timetable
July 31
RAL made its application
August 28
Commission released its draft determination stating that its preliminary view, based on information then available, was to decline the application
by September 25
submissions on the draft determination
September 26
Commission sent public copies of all submissions to interested parties
by October 2
experts hired by interested parties to make submissions
October 18-19
conference in Wellington
November 7
Commission to release final decision
The Commerce Act
The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market.
Parties can apply for an authorisation in effect an exemption from the Act of a business acquisition that would otherwise be prohibited. The Commission will grant an authorisation if it is satisfied that public benefits from a proposed acquisition would outweigh its detriments to competition.
