Canada's IKO faces New Zealand review of its proposed Ross Roof Group acquisition
( May 28, 2021, 00:15 GMT | Official Statement) -- MLex Summary: A move by global roofing company IKO to acquire New Zealand’s Ross Roof Group will be reviewed by the country’s competition regulator. In a statement issued today, the New Zealand Commerce Commission said it had received an application to review the deal and indicated that its analysis would consider the supply of steel roof tiles — a key area of overlaps between Ross Roof and IKO’s local operations. The Canadian-based IKO own New Zealand’s Roof Tile Group that presses steel roofing tiles in Auckland, which it sells into the domestic market and exports. The Commerce Commission has set July 23 as a date for a preliminary decision on its public review.The full statement by the New Zealand Commerce Commission follows; the application by IKO is attached. ...
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