Post by Kiwi Frontline on Jul 30, 2023 5:21:17 GMT 12
COMMERCE COMMISSION RAISES CONCERNS ABOUT SANFORD SALE TO MOANA
The Commerce Commission is concerned fishing company Moana New Zealand’s acquisition of Sanford’s North Island operations could cause issues with competition in the industry.
Sanford plans to sell most of its North Island inshore wildcatch fishing rights to iwi-owned rival Moana, and close its Auckland processing plant. Sanford had agreed to sell the annual catch entitlement for much of its quota to Moana for at least 10 years.
“We are considering whether the increase in the amount of [entitlement] that is allocated to Moana could substantially lessen competition,” the statement said.....
www.stuff.co.nz/business/132631807/commerce-commission-raises-concerns-about-sanford-sale-to-moana
The Commerce Commission is concerned fishing company Moana New Zealand’s acquisition of Sanford’s North Island operations could cause issues with competition in the industry.
Sanford plans to sell most of its North Island inshore wildcatch fishing rights to iwi-owned rival Moana, and close its Auckland processing plant. Sanford had agreed to sell the annual catch entitlement for much of its quota to Moana for at least 10 years.
“We are considering whether the increase in the amount of [entitlement] that is allocated to Moana could substantially lessen competition,” the statement said.....
www.stuff.co.nz/business/132631807/commerce-commission-raises-concerns-about-sanford-sale-to-moana