Statement of Issues released for Viridian’s proposed acquisition of Metro Perfor…
The Commerce Commission has published a statement of issues relating to an application from Viridian NZ Bidco Limited seeking clearance to acquire up to 100% of the shares in Metro Performance Glass Limited by way of a takeover offer under the Takeovers Code or scheme of arrangement under Part 15 of…
The Statement of Issues outlines the Commission’s potential competition issues with the acquisition following its initial investigation. The Statement of Issues is not a final decision and does not mean that the Commission intends to decline or clear the merger.
The Commission is seeking submissions from Viridian, Metro and any other interested parties on the issues raised in the Statement of Issues.
The Statement of Issues can be found on the case register.
Submissions can be sent by email to registrar@comcom.govt.nz with the reference “Viridian/Metro” in the subject line.
Submissions are due by close of business on 4 September 2025, with cross-submissions due by close of business on 18 September 2025.
The Commission was scheduled to make a decision by 28 July 2025, however an extension of time has been agreed between the Commission and Viridian. The new decision date is 20 October 2025. However, this date may be extended with the agreement of the applicant if the material before the Commission at that time does not allow it to be satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in a market in New Zealand.
Background
We will only give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
Further information explaining how the Commission assesses a merger application is available on our website.