ComCom delays help scuttle Ngāi Tahu jet boat deal

Deal dead in the water: Ngāi Tahu has dropped its bid for KJet. (Image: BusinssDesk)

Fri, 22 Dec 2023

Ngāi Tahu Tourism has walked away from its offer for Queenstown jet-boating business KJet and the Time Tripper underwater experience on Lake Wakatipu from Kawarau Jet Services Holdings after an extended approval process from the competition regulator.The Commerce Commission has been reviewing Ngāi Tahu's clearance application since Aug 10 and had recently pushed back its final decision to March 26 next year. In October, the commission cited concerns about the competitive effects of the acquisition, given Ngāi Tahu's owner...

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