Lion applies for clearance to extend ownership of Montana to 100 percent
Published21 Nov 2000
The Commerce Commission has received an application from Lion Nathan Limited for clearance to acquire all the shares in Montana Group (NZ) Limited that it does not currently own.
Lion Nathan currently holds 28.2 percent of Montana shares.
The main activities of Lion Nathan are the manufacture, distribution sales and marketing of beer and liquor. Montana operates in a range of wine markets.
The Commission's Commerce Act Manager, Geoff Thorn, said that the Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets.
Parties can apply for a clearance, which the Commission will give if it is satisfied that dominance is not acquired or strengthened. The Act gives the Commission 10 working days in which to make its decision, but allows for extensions of time if necessary. The decision is currently due on November 24. The application had originally been confidential, but confidentiality has now been lifted.
Public copies of Lion Nathan's application are available from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.
