ComCom seeks feedback on proposed acquisition of Tower

by Michael Mata 17 Mar 2017

ComCom seeks feedback on proposed acquisition of Tower

A week after a major insurer lodged a clearance application to acquire 100% of the shares of a Kiwi insurer, NZ’s competition enforcement and regulatory agency is inviting interested parties to comment on the competition issues relating to the merger.

The Commerce Commission has released a Statement of Preliminary Issues that outlines the key competition issues of Vero’s acquisition of Tower. A copy of the statement is available at the Commission’s Clearances Register.

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Interested parties have until April 06, 2017 to email their comments on the likely competitive effects of the proposed merger to, using the reference Vero/Tower in the subject line. 

The Commission tentatively set the deadline for its decision at May 05, 2017. This date may be extended as the investigation progresses, if the Commission finds the need to test and consider other emerging issues.

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