Media Releases

Commission reconvenes conference on wool scouring authorisation

24 August 2015

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

The conference will be held on Tuesday 1 September to consider specific issues relating to property valuations, which form part of Cavalier’s application.

The conference, to be held at the Commission’s Wellington office, is closed to the general public as the property valuations are entirely confidential.

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.

A second conference to discuss property valuations was scheduled for 5 August; however, this was postponed after the Commission received new confidential information that had yet to be tested.