The Commerce Commission has received an application from Real Journeys Limited (trading as Real NZ) seeking clearance for itself (or any interconnected body-corporate) to acquire the vessel, the Spirit of Queenstown, and associated assets from Southern Discoveries Limited.
Real NZ and Southern Discoveries both offer scheduled tourist cruises on Lake Whakatipu in Queenstown.
Real NZ is a wholly owned subsidiary of Real Group Limited. Real NZ offers tourism services from Queenstown to Stewart Island and also owns the International Antarctic Centre in Christchurch. Relevant to the application, Real NZ owns and operates the TSS Earnslaw in Queenstown.
Southern Discoveries is wholly owned by the Skeggs Group and offers tourism services in Milford Sound and Queenstown. Relevant to the application, Southern Discoveries owns and operates the Spirit of Queenstown, which provides scenic cruises on Lake Whakatipu.
A public version of the clearance application will be available shortly on the Commission’s case register.
Background
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
