Statement Of Preliminary Issues Released For Latitude / Humm

Friday, 13 May 2022, 11:59 am
Press Release: Commerce Commission

The Commerce Commission has published a statement of preliminary issues regarding the application from Latitude Group Holdings Limited to acquire Humm Group Limited’s consumer finance business.

The Statement outlines the key competition issues that the Commission currently considers important in deciding whether or not to grant clearance to the proposed acquisition.

The Commission invites interested parties to provide comments on the likely competitive effects of the proposed acquisition. Submissions can be sent by email to [email protected] with the reference ‘Latitude/Humm’ in the subject line. Any submissions should be received by close of business on 27 May 2022.

The Commission is currently scheduled to make a decision on the application by 15 June 2022. However, this date may be extended as the investigation progresses.

The Statement of Preliminary Issues and a public version of the application can be found on the Commission’s case register.

Background
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.