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ORIX CLEARED TO BUY FLEETPARTNERS

24 July 2006 10:00AM
The Commerce Commission in New Zealand granted clearance for the acquisition of the business of Truck Leasing Limited (trading as Esanda FleetPartners) by Orix New Zealand Limited.The Commission said in a statement on Friday that it was satisfied that the proposed acquisition would not substantially lessen competition in the markets for the provision of fleet management services and the provision of fleet leasing services.Most likely other lease entities will make offers for Esanda FleetPartners. ANZ National placed the business for sale two months ago.The acquisition by Orix of FleetPartners would unite the third-largest and fifth-largest suppliers in the fleet leasing sector, and unite the second and eighth largest suppliers in the fleet management segment.

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