The Commerce Commission has received an application from P & O Nedlloyd Ltd for clearance to acquire the assets of the business of Tasman Express Line Ltd.

P & O Nedlloyd operates a container shipping business between New Zealand ports and ports throughout the world. Tasman Express Line provides container shipping services between New Zealand and Australian ports.

Commission Chairman Peter Allport said that the Commission expects to make its decision by February 18.

The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets. Parties can apply for clearance, which will be granted if the Commission is satisfied that dominance is not acquired or strengthened.

The Commission must determine the relevant markets and then assess what impact the proposed acquisition would have on competition in those markets.

A clearance, if granted, protects an acquisition from court action under the Act.

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