Watchdog eyes deal between carpark giants
The companies own a number of operations throughout the country.
Carpark giant Wilson Parking’s swoop on the parking assets of Kiwi-owned rival Tournament Parking is being investigated by the Commerce Commission.
The competition watchdog will consider whether Wilson’s acquisition of some of Tournament’s carpark leases and management contracts this week is likely to substantially decrease competition in the market.
If there is concern that competition has been affected, the commission can take enforcement action under the Commerce Act which could lead to large penalties or a court order for the merger to be reversed.
Both companies own a number of car parking operations throughout the country.
Wilson Parking, owned by Hong Kong's Kwok family, is the largest carpark company in South East Asia with more than 100 sites in this country.
It's smaller rival Tournament Parking was started by Simon Rountree and James Brown 14 years ago. It continues to own properties and develop its parking assets nationwide.
The commission is inviting submissions from parties who may have information relevant for it to consider.
Georgina Bond
Fri, 21 Jun 2013
Fri, 21 Jun 2013
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Watchdog eyes deal between carpark giants
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