Media Releases

Commission reconvenes conference and calls for final submissions on wool scouring authorisation

20 July 2015

The Commerce Commission is to reconvene its conference and seek final submissions on Cavalier Wool Holding Limited’s application for authorisation to acquire New Zealand Wool Services International's wool scouring business.

The Commission hosted a public conference last month and has since received a number of further submissions. To ensure that all parties have an opportunity to respond to new information provided, the Commission is asking that final submissions be provided by Monday 10 August.

The Commission will reconvene its conference on Wednesday 5 August to consider specific issues relating to property valuations, which form part of Cavalier’s application. Last month’s conference did not include a session on property valuation as the Commission was awaiting independent valuations.

The next conference, to be held at the Commission’s Wellington office, is closed to the public as the property valuations are entirely confidential. All persons wanting to attend must have signed confidentiality undertakings.

Final submissions should be sent to registrar@comcom.govt.nz with the subject line “Final submissions on the Cavalier Application for Authorisation” by 12pm on Monday 10 August 2015. Any questions regarding attendance at the conference can be sent to the same email address by 31 July.

The Commission will be making its final determination on Cavalier’s application by 28 August.

All information relating to this application can be found on the project page.

Background

On 23 October 2014 the Commission received an application from Cavalier Wool Holdings Limited seeking authorisation to acquire 100% of New Zealand Wool Services International's wool scouring business and assets. On 26 March 2015 the Commission released its Draft Determination which outlined the Commission’s preliminary view that it should authorise the application.

A conference was held on 10 June 2015 to assist the Commission in making a final determination on Cavalier Wool Holdings Limited’s application. The conference did not include a session on property valuations. However, parties were notified that they would have the opportunity to submit on property valuations at a later date.