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Tegel's Purchase of Brinks Rejected
NEW ZEALAND - The Commerce Commission has declined an application by the country's biggest poultry producer, Tegel Food Limited, to acquire five Brinks poultry businesses.Tegel filed the application in May this year, according to Radio New Zealand.
Commission chair, Paula Rebstock, said the Commerce Commission was not satisfied that the proposed acquisition will not substantially lessen competition for processing and wholesale supply of chicken meat products to supermarkets and food processors.
National Business Review reports that the Brinks poultry businesses involved are P.H. Van den Brink Limited, VDB Industries Limited, Brinks South Island Limited, Southland VDB Limited and BAT Promotions Limited. Detailed written reasons for the decision have not yet been released.
In another report from National Business Review, an expert in corporate and competition law says that the Commission's reasons for declining the proposal could be another month away.
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