Reindeer Investments applies for clearance to acquire 51 percent of Harding Licensing Systems
Published03 Aug 2000
The Commerce Commission has received an application from Reindeer Investments Pty Limited to acquire 51 percent of Harding Licensing Systems Limited.
Reindeer is an Australian-based holding company whose subsidiaries manufacture vehicle registration plates and traffic safety products, and own a sand and gravel quarry.
Harding produces vehicle registration plates, security identification systems and digital graphics on vinyl sheeting.
Harding will be created for this acquisition and will own assets currently owned by Harding Electronic Systems Limited (HES). HES is ultimately owned by Viking Pacific Holdings Limited.
Commission Chair John Belgrave 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 grant if it is satisfied that dominance would not be acquired or strengthened. The Act gives the Commission 10 working days in which to make its decision. Working day 10 will be August 17.
A clearance, if granted, protects an acquisition from court action under the Act.
Public copies of Reindeer's application are available from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.
Media contact: Communications Officer Vincent Cholewa
