The Commerce Commission expects to make three decisions in relation to the proposed sale of Contact Energy Limited on Friday afternoon this week.
Commissioner Dr Kate Brown said that the decisions will be on the applications for clearances from TransAlta NZ Limited, The Australian Gas Light Company and Alliant International (New Zealand) Limited. Each company has applied for clearance to acquire 40 percent of Contact.
Dr Brown said that the Commission will not hold a conference on any of the applications.
She said that hard copies of the decisions will be available from the Commission's Wellington office and electronic copies from its website after about 4pm Friday.
Background
The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets. Parties can apply for a clearance, which will be granted if the Commission is satisfied that dominance is not acquired or strengthened.
A clearance, if granted, protects an acquisition from court action under the Act.
The Government has required all bidders for the cornerstone shareholding in Contact with existing interests in New Zealand electricity or gas markets to apply for Commission clearance.
Media contact: Commerce Act Manager Geoff Thorn
Phone work (04) 498 0958
Communications Officer Vincent Cholewa
Phone work (04) 498 0920
Commission media releases can be viewed on its web site www.comcom.govt.nz
