ICCC said Link PNG Limited, a subsidiary of Air Niugini Limited, has submitted an application seeking authorisation for its proposed acquisition of up to 60 percent shares in PNG Air Limited.
“Link PNG proposes to firstly acquire 40 percent of the shares in PNG Air owned by National Superannuation Fund Limited (NASFUND); and followed by the acquisitions of shares of minority shareholders,” revealed ICCC.
“Authorisation application for business mergers and acquisitions is a statutory process for seeking approval from the ICCC to proceed with any business mergers and acquisitions that would otherwise raise serious competition concerns and potentially, breach the Independent Consumer and Competition Commission Act 2002 (ICCC Act).
“The ICCC is inviting organisations and individuals who are interested in this application to submit comments and views on the likely pro-competitive and anti-competitive implications of the proposed acquisition. Stakeholders are also requested to comment on likely benefits or detriments to other businesses, consumers, the economy and the country as a whole, if this proposed acquisition proceeds.
“Please note that all submissions will be treated as public information, except where information is designated ‘confidential’ by the submitter. Where information is designated confidential, the submitter must provide reason(s) as to why that particular information should not be disclosed to the public. The ICCC will assess it and make a decision on the confidentiality claim(s). Please contact us to collect the appropriate form to formally register your confidentiality request.
“All comments and submissions should reach the ICCC by Wednesday 10th June, 2020.
“Public copies of the authorisation application can be obtained at the ICCC Office.”
ICCC says all submissions and comments should be addressed to Paulus Ain, Commissioner and Chief Executive Officer of the ICCC under the address:
1st Floor Garden City Complex
PO Box 6394
National Capital District
All queries relating to this matter should be directed to Steven Sugl, Executive Manager, Competitive Markets & Fair Trade Division on telephone 325-2144 or e-mail to: email@example.com