INDEPENDENT NEWS

BOC NZ Applies For Clearance To Acquire ASCO Asset

Published: Thu 7 Dec 2000 05:05 PM
BOC NZ Applies For Clearance To Acquire ASCO Assets
The Commerce Commission has received an application from BOC Gases New Zealand Limited for clearance to acquire the assets of ASCO Carbon Dioxide Limited's retail carbon dioxide business.
BOC NZ is involved in industrial and specialty gas markets and also distributes welding and safety equipment. It is ultimately owned by The BOC Group Plc, which is listed on the London and New York stock exchanges.
ASCO is involved in carbon dioxide markets and is owned by a Swiss company, ASCO Kohlensaeure AG.
The Commission's Commerce Act Manager, Geoff Thorn, said that the Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. Parties can apply for a clearance, which the Commission will give if it is satisfied that dominance is not acquired or strengthened.
The Act gives the Commission 10 working days in which to make its decision but allows for extensions of time if necessary. Working day 10 will be December 19.
Media contact: Commerce Act Manager Geoff Thorn Phone work (04) 498 0958, cellphone 021 661 104
Senior Advisor Communications Vincent Cholewa Phone work (04) 498 0920, home (04) 477 0039
Commission media releases can be viewed on its web site www.comcom.govt.nz
Regards Leo van Schyndel Records Officer Corporate Services Direct dial : (04) 498-0929 E-mail : leo.vanschyndel@comcom.govt.nz

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