( September 30, 2025, 03:34 GMT | Official Statement) -- MLex Summary: The ownership restructure of Twinza Oil by Tor Investment Management (Hong Kong) has been cleared by Papua New Guinea’s competition regulator. In a statement, the Independent Consumer and Competition Commission said the restructure, which is being implemented in Australia, will see Twinza’s lenders convert their debt into equity, with Tor, as the senior lender, acquiring more than 75 percent of the equity shares in the company. This will give Tor indirect control of Twinza’s local subsidiaries, including Twinza PNG and Twinza Pandor. The ICCC’s assessment established that Tor and Twinza didn’t have any overlapping products nor any vertical supply relationships, the watchdog said.The ICCC's determination is attached; the regulator's statement follows: ...
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