NZ: Watchdogs delay Lion Independent ruling
New Zealand's competition watchdogs have reportedly delayed its decision on Lion Nathan's potential bid for Independent Liquor.
The NZ Commerce Commission has pushed back the deadline for a decision to 25 August, according to a report in the Australian Financial Review over the weekend.
Lion sought regulatory clearance to buy Independent last month, although the company insisted it was not a sign it would make a formal bid.
Analysts have estimated that it would cost A$1.1m (US$818m) to buy Independent Liquor, which appointed UBS to advise it on a potential sale in May.
A sale of the privately-owned company has been mooted since the death of its founder, Michael Erceg, in a helicopter crash last November.
Australian beer and wine group Lion Nathan is expected to announce a move into ready-to-drink spirits next week. David Robertson assesses the options available to Lion as it seeks to emulate the succe...
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Independent Liquor has lined up a new chief executive to lead the New Zealand company following its sale to a private equity firm late last year....
Lion Nathan has received a sizeable tax demand, following an audit at one of its subsidiaries....
Private equity firm CCMP Capital has won the race for Independent Liquor, just-drinks understands....
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