ICCC assessing proposed merger

THE Independent Consumer and Competition Commission (ICCC) says it assesses the likely competition effects of a proposed merger or acquisition in the market when considering a clearance application.
Commissioner and chief executive officer Paulus Ain said this following the approval of New Year’s Eve Ltd’s (NYEL) application for clearance to acquire all assets of Alotau Enterprises and 100 per cent shares in Allen Enterprises Ltd (Alen), on April 1.
Ain, in a statement, said that NYEL lodged the application on March 5, pursuant to section 81 of the Independent Consumer and Competition Commission Act 2002 seeking clearance from the ICCC to proceed with the proposed acquisition.
“If the ICCC is satisfied that the proposed transaction will not have, and will not be likely to have, the effect of substantially lessening competition in the relevant market(s), it must give a clearance for the transaction,” he said.
“The ICCC must decline to give clearance if it is not satisfied that the proposed transaction will not have, or will not be likely to, have the effect of substantially lessening competition in the market.”