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 State
ment 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.
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
Interested parties have until April 06, 2017 to email their comments on the likely competitive effects of the proposed merger to firstname.lastname@example.org, 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.
Suncorp ups bid for Tower
Tower bid ‘vote of confidence’ for NZ market
seeks clearance to buy Tower