Peal seeks to acquire Ground Services

THE Pacific Energy Aviation (PNG) Limited (Peal) has applied to the Independent Consumer and Competition Commission for clearance to acquire PNG Grounds Services Limited (PNGGS), according to ICCC.
Commissioner and chief executive officer Paulus Ain said the commission was now seeking submissions from industry stakeholders, interested persons and the public on the application to assist it in its decision.
“The ICCC will have to assess if the acquisition will or will not significantly affect competition in the aviation fuel industry,” he said.
PNGGS is a wholly-owned subsidiary of PNG Air Limited (PNG Air) that provides refuelling services to all its fleet at Jackson, Gurney, Daru and Lihir airports.
Peal is the owner and operator of the Joint Underground Hydrant Installation (JUHI) at Jackson International Airport servicing both domestic and international aviation requirements.
Ain said the ICCC Act 2002 prohibited the acquisitions of assets of a business or shares that would substantially reduce or impede competition among businesses, unless such acquisitions were cleared or authorised by the ICCC.
“If the ICCC gives clearance, the acquisition of PNGGS will be protected from being challenged for breaching the relevant provisions of the ICCC Act. The clearance is a statutory process and it is carried out in a transparent public manner.
“It is in this regard that the ICCC is seeking submissions from persons who may have an interest in the proposed acquisition.”