Why the ComCom should have let Gull IPO

Why the ComCom should have let Gull IPO
Another missed opportunity for local investors. (Image: Supplied)
Brian Robins
It’s hard not to be impressed with a 50% return on flipping a business in just over five years, but that is what Ampol has done with fuel reseller Gull NZ.Ampol paid $340 million for the business when it bought it from the Rae family of Perth, WA, in a deal announced late in 2016 and completed early the next year, a business that has just been sold for $509m. Gull’s new owner, Australian investor group Allegro, has also taken $69m of Gull’s debt onto its books.Z Energy shareholders approved the deal last Friday.While Gull...

More Law & Regulation

Foodstuffs NI warned by ComCom over supplier treatment
Retail

Foodstuffs NI warned by ComCom over supplier treatment

It obstructed a supplier request, says Grocery Commissioner.

Vector faces fresh complaint on unfair contract terms
Property

Vector faces fresh complaint on unfair contract terms

Vector faces more scrutiny over contract terms after Commerce Commission advice.

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs
Property

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs

A developer’s Fair Trading win against Vector feels like a loss.

Garth Bray 01 Jul 2025