Commerce Commission wins appeal in Budget Loans case

Press Release – Commerce Commission

The Commerce Commission has won its appeal against a District Court decision to dismiss 19 charges against two finance companies. Read more »

Too many customers in play for Sky, Voda merger

Article – BusinessDesk

April 13 (BusinessDesk) – The government-sponsored roll-out of a national telecommunications fibre network was among the complicating factors against a tie-up between pay-TV operator Sky Network Television and telecommunications group Vodafone New Zealand … Read more »

Korea and New Zealand discuss carbon markets

Press Release – New Zealand Government

Climate Change Minister Paula Bennett says New Zealand and Korea have begun joint discussions on developing carbon markets in the region. Read more »

Cooks Global Foods looking at China JV

Article – BusinessDesk

April 13 (BusinessDesk) – Cooks Global Foods said advanced talks to establish a new joint venture with Chinese partners and the sale of its Progressive Processors unit mean it may transition to cashflow breakeven in the 2018 financial year although … Read more »

Former ad industry powerhouse, failed owing $183k

Article – BusinessDesk

April 13 (BusinessDesk) – Marmalade Audio, the music and post-production studio whose output included Dave Dobbyn’s 1986 hit with Herbs Slice of Heaven and Telecom’s Spot the Dog campaign, failed owing just $183,000, the liquidators’ first report shows. Read more »

Report highlights unfairness of delayed payments

Press Release – Road Transport Forum

Small businesses being used to finance large multinationals through delayed payments is not on, says Road Transport Forum Chief Executive Ken Shirley. Read more »

Judgment: Te Mania v Wilding

Press Release – New Zealand High Court

The long contest over the future of New Zealand’s prestigious Te Mania Aberdeen Angus Stud in North Canterbury has been determined by the High Court in Christchurch. Read more »

Spark’s offer to acquire TeamTalk has now lapsed

Press Release – Spark NZ

Sparks offer to acquire TeamTalk has now lapsed Spark New Zealand has noted the shareholder vote at todays TeamTalk special shareholder meeting to approve the sale of a 70% shareholding in Farmside. As previously advised, Spark New Zealand … Read more »

TeamTalk shareholders support Farmside transaction

Press Release – TeamTalk

TeamTalk Limited (NZX: TTK) shareholders overwhelmingly voted in favour of a resolution to sell 70% of the shares in the companys Farmside division to Vodafone New Zealand Limited (Vodafone) at a special meeting in Wellington this morning. Read more »

Vodafone to proceed with 70% stake acquisition

Press Release – Vodafone

Vodafone New Zealand Limited (Vodafone NZ) and TeamTalk Limited (TeamTalk) (NZX: TTK) have today cleared a major hurdle, for Vodafone NZs proposal to acquire 70 per cent of the shares in BayCity Communications Limited for $10 million in cash. Read more »

Commission invites discussion on related party transactions

Press Release – Commerce Commission

The Commerce Commission is considering how transactions between energy networks and related businesses should be regulated and has today released a paper seeking feedback on how it should approach this Read more »

BNZ partners with posBoss

Press Release – BNZ

BNZ today announced it has partnered with New Zealand company, posBoss, to provide an integrated point of sale solution (POS) for the hospitality industry. Read more »

Property Brokers Manawatu fined $1.5m in price fixing case

Press Release – Commerce Commission

Property Brokers Limited and its director Tim Mordaunt have been ordered to pay penalties totalling $1.5 million in a judgment today of the High Court, following a hearing in March. Read more »

Eden Park to partner with Mr Vintage

Press Release – Eden Park

Eden Park is thrilled to announce a partnership with Mr Vintage to create a locally designed stadium range of t-shirts and accessories. Read more »

Infratil sells 19% Metlifecare stake for $237.9 million

Article – BusinessDesk

April 7 (BusinessDesk) – Infratil has sold its cornerstone stake in Metlifecare for $237.9 million, generating an annual return of 15.5 percent over the three-and-a-half years it held shares of the retirement village operator and developer. Read more »

Adamantem buys into Heritage Lifecare

Article – BusinessDesk

April 6 (BusinessDesk) – Australian private equity firm Adamantem Capital has bought into Heritage Lifecare in a deal valuing the New Zealand retirement village and aged-care operator at $115 million. Read more »

New Plymouth Airport asset transfer in the pipeline

Press Release – New Zealand Government

The Government and New Plymouth District Council have agreed in principle to transfer New Plymouth Airport to local government ownership, Transport Minister Simon Bridges says. Read more »

Bathurst Resources finds replacement for Westport contract

Article – BusinessDesk

April 6 (BusinessDesk) – Bathurst Resources has found a new buyer for coal from its Canterbury mine, replacing the lost supply deal for Westport’s cement works when Holcim closed the plant last year. Read more »

Peter Thiel interests sell 1.12M Xero shares

Article – BusinessDesk

April 6 (BusinessDesk) – Interests associated with tech billionaire Peter Thiel have sold about 1.1 million shares in Xero, reducing its overall holding to below 5 percent. Read more »

Z drops plan for virtual annual meetings

Article – BusinessDesk

April 6 (BusinessDesk) – Z Energy has reversed its decision to dump physical annual meetings in favour of cheaper virtual ones and will instead hold a hybrid of the two after lobbying from the New Zealand Shareholders’ Association. Read more »

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