Wilson Parking given all clear to buy competitor’s leases
Wilson cleared to buy Tournament Parking leases.
The Commerce Commission has cleared the way for Wilson Parking to buy five car park leases in Newmarket, Auckland and Wellington from Tournament Parking.
Wilson Parking originally applied for clearance to acquire the leases for 10 car parks from Tournament but amended its application during the commission’s investigation.
The acquisition will result in Wilson Parking operating four of Tournament’s car parks in central Wellington – Leftbank, Lombard, Marion Street and Plimmer Tower – and one of Tournament’s Rialto car parks in Auckland’s Newmarket.
The commission says it is satisfied the acquisition will not substantially lessen competition in the affected markets.
Commission chairman Dr Mark Berry says each area affected by the acquisition contains a variety of on-street and off-street parking alternatives.
“We consider Wilson Parking will continue to face significant competition from other parking operators."
Wilson Parking, which operates approximately 270 parking facilities nationwide, is part of the wider Wilson Group, which operates parking sites throughout Australia and Asia.
Tournament is a privately owned company that currently operates 13 car park buildings in Auckland and Wellington. In 2013, it sold most of its other parking operations to Wilson Parking, in a deal approved by the commission.
In March, the commission found Wilson Parking New Zealand's 2013 acquisition of those parking assets hadn't substantially crimped competition and deemed that public transport will keep a lid on any price hikes.
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Sally Lindsay
Thu, 12 Nov 2015
Thu, 12 Nov 2015
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Wilson Parking given all clear to buy competitor’s leases
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