Z Energy argues purchase of Caltex won't drive up pump prices or reduce competition

Tue, 30 Jun 2015

By Jonathan Underhill July 1 (BusinessDesk) - Z Energy, the listed service station chain, said its planned $785 million purchase of rival Chevron New Zealand's Caltex-branded network won't drive up prices at the pump because the target doesn't have retail price-setting power and the market will remain highly competitive. Z Energy makes the argument in its application to the Commerce Commission for clearance to buy the rival, a public version of which was published today. Parts of the application have been redacted, including details of co...

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