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Elgas' bid for Liquigas stake, On Gas assets approved by New Zealand regulator

( November 13, 2024, 23:46 GMT | Official Statement) -- MLex Summary: Elgas’ play for 60 percent of shares in Liquigas and assets of On Gas from Vector Investment has received approval from the New Zealand competition watchdog. In a statement today, the New Zealand Commerce Commission said while Elgas and On Gas were both suppliers of LPG, “the merged entity is likely to continue to face competitive constraint from other LPG suppliers in the relevant wholesale and retail markets.” The regulator also found that following the acquisition of Liquigas shares, the merged business would likely not have the incentive to foreclose rival LPG suppliers from accessing Liquigas’ facilities and distribution services or “supply those services on less favorable terms.”The full statement from the New Zealand Commerce Commission follows:...

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