Carter Holt gets forestry clearance

The Commission says the forestry company can buy the assets of the partnership, subject to divestment.

Details of the divestment undertaking are commercially sensitive and the Commission says it will treat them as confidential.

Commission chairman, John Belgrave, says that subject to the divestment the Commission is satisfied that should the proposal go ahead CHH would not acquire or strengthen dominance in any market.

Relevant markets for the case included the production and supply of unpruned sawlogs, pulplogs and woodchips in the Central North Island excluding the Auckland and Hawkes Bay regions, pruned sawlogs in the Central North Island and sawn timber in the North Island.

Carter Holt has not made any concrete offer for the CNIFP assets, which are currently in receivership, but says the application was to keep its options open.

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