7 April 2009: Simpson Grierson is delighted with the recent Commerce Commission decision clearing the proposed purchase by Fletcher Building Limited of Stevenson Group Limited's masonry businesses in Auckland and Whangarei.

Acting for Fletcher Building Limited, partner Peter Hinton successfully submitted that the businesses were a "failing firm" in his application to the Commerce Commission.  The clearance based on this submission is the first of its kind in the current economic climate. 

The Commission's reasons for the clearance were released to the public on Friday 3 April 2009  - a copy of these reasons can be found at
http://www.comcom.govt.nz//PublicRegisters/ContentFiles/Documents/PUBLIC%20-%20Decision%20663%20-%20Fletcher%20_%20Stevenson%20(2).pdf.

Simpson Grierson is currently preparing commentary on the decision, details of which will be released to clients in an FYI - available to the public in the publishing section of this website.