Statement Of Issues Released On Cargotec/Konecranes Clearance Application

The Commerce Commission has published a Statement of Issues relating to Cargotec Corporation’s application seeking clearance to acquire Konecranes Plc as part of a global merger.

The Statement of Issues outlines the Commission’s potential issues with the proposed transaction following its initial investigation. A Statement of Issues is not a final decision and does not mean that the Commission intends to decline or clear the proposed transaction.

The Commission is seeking submissions from Cargotec and Konecranes and other interested parties on the issues raised in the Statement of Issues.

The Statement of Issues will be available on the case register shortly.

Submissions can be sent by email to registrar@comcom.govt.nz with the reference ‘Cargotec/Konecranes’ in the subject line.

Submissions are due no later than close of business on 2 December 2021.

The Commission is currently scheduled to make a decision on the application by 15 December 2021. However, this date may be extended as the investigation progresses.

Background

We will 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.

© Scoop Media