Commission extends forest and airport decisions

By Phil Boeyen, ShareChat Business News Editor

Thursday 7th June 2001

The Commerce Commission has once again extended its decision on whether to allow Carter Holt Harvey (NZSE: CAH) to buy the Central North Island Forestry Partnership.

The partnership, jointly owned by Chinese company Citic and Fletcher Forests, is in receivership.

A decision from the Commission was due Thursday but will now be made on June 15.

Carter Holt has not announced that it will buy the assets but is seeking clearance should a proposal be forthcoming.
The company was previously cleared to buy the state-owned forests when they were put up for tender in 1995.

Meanwhile a draft report due on airport price controls has been extended by three weeks to June 29.

A recommendation is due to be made on whether price controls should be introduced on airfield activities at Auckland (NZSE: AIA), Wellington and Christchurch International Airports.

The Commission says the delay will allow it more time to consider advice from independent experts on key issues.

Following the draft report further submissions can be made. A final recommendation is expected to be in the hands of the Minister of Commerce by November 2.

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