Portacom applies for clearance to acquire Portable Buildings
Published17 Oct 2000
The Commerce Commission has received an application from Portacom New Zealand Limited for clearance to acquire all the assets of Portable Buildings Limited, which trades as Quickspace.
Portacom operates nationwide in markets for portable buildings. It is a wholly owned subsidiary of South African-based WACO International Limited.
Portable Buildings is Christchurch-based and operates mostly in the South Island.
The Commission's Commerce Act Manager, Geoff Thorn, said that the Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market.
Parties can apply for a clearance, which the Commission will give if it is satisfied that dominance is not acquired or strengthened. A clearance, if given, protects an acquisition from court action under the Act.
The Act gives the Commission 10 working days in which to make its decision but allows for extensions of time if necessary. Working day 10 will be November 1.
Copies of Portacom's application are available from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.
