Joint venture cleared to buy 49 percent of Capital Power
Published04 Nov 1994
The Commerce Commission today cleared a joint venture of three companies, Newco Limited, to buy 49 percent of the shares of Capital Power Limited currently on offer.
The joint venture is made up of Power New Zealand Limited, WEL Energy Group Limited and Energy Direct Corporation Limited.
The Commission concluded the proposal would not result in any company gaining or strengthening a dominant position in any market.
Energy Direct, acting on its own, had previously been cleared to buy the 49 percent of Capital Power shares on offer.
