Watchdog flags fuel-merger issues

The Commerce Commission has raised concerns about potential competition issues over a bid by Astra Energy Group Limited to acquire all the shares in the parent companies of fuel companies Gull and NPD. 

As a result, the regulator has published a statement of issues on the application and is seeking feedback. 

Astra Energy filed an application seeking clearance to take over GNZ Holdco Limited and NPD Group Investments Limited, including their respective subsidiaries, Gull and NPD, in January.

The statement of issues outlines potential competition issues with the acquisitions that have been identified by the commission after its initial investigation. 

It is now seeking submissions from Astra Energy, Gull, NPD and other interested parties on the matters it has raised. The statement of issues can be found on the case register on the commission’s website.

The commission was due to decide on the application by March 16, but an extension to May 28 has been agreed with Astra Energy. 

“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,” the regulator says.

Submissions on the statement of issues can be sent by email to registrar@comcom.govt.nz with the reference “NPD/Gull” in the subject line. 

Submissions are due by close of business on April 2, with cross-submissions due by April 15.