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- Release Date: 05/09/13 15:45
- Summary: ASSET: AIR: Air New Zealand welcomes ACCC announcement
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AIR
05/09/2013 13:45
ASSET
REL: 1345 HRS Air New Zealand Limited (NS)
ASSET: AIR: Air New Zealand welcomes ACCC announcement
Air New Zealand Limited (Air New Zealand) welcomes today's announcement by
the Australian Competition and Consumer Commission (ACCC) that it will not
oppose the proposed acquisition by Air New Zealand of an additional 6 per
cent of Virgin Australia Holdings Pty Ltd (Virgin).
On 6 June 2013 Air New Zealand announced it had entered into an agreement to
acquire a further 3% of the shares of Virgin Australia, taking its interest
to 22.99%. The agreement remains subject to customary Foreign Investment
Review Board (FIRB) conditions. Air New Zealand also announced that it will
consider acquiring up to a further 3% of the shares in Virgin Australia, to
the extent it is permitted to do so under the Australian Corporations Act,
and has made an application to FIRB on that basis.
As part of its usual process, FIRB sought the views of the ACCC on any
competition related issues. Whilst the ACCC announcement is a positive
development, Air New Zealand has not yet received FIRB approval.
Contact Air New Zealand Public Affairs ph +64 21 747 320
End CA:00240744 For:AIR Type:ASSET Time:2013-09-05 13:45:45
