Matariki Forests granted clearance to acquire the Canterbury forest assets of Selwyn Plantation Board
Published28 Sep 2011
The Commerce Commission has granted clearance for Matariki Forests to acquire the Canterbury forestry assets of the Selwyn Plantation Board.
The Commerce Commission has granted clearance for Matariki Forests to acquire the Canterbury forestry assets of the Selwyn Plantation Board.
Commerce Commission Chair Dr Mark Berry said the Commission was satisfied that the proposed acquisition will not substantially lessen competition in the mid and north Canterbury markets for the supply of pulp logs, industrial logs and structural logs.
The Commission considers that competition from existing participants in each of these markets is likely to be sufficient to constrain the merged entity.
A public version of the written reasons for the decision will be available shortly on the Commission's website at: www.comcom.govt.nz/clearances-register
Background
Matariki Forests is New Zealand's third largest forestry company and owns exotic forests throughout New Zealand. It is the largest forest owner in Canterbury. The clearance application related to both parties' involvement in the supply of logs in the Canterbury region.
