07.25.06
Auto Leasing Company OK’s Rival Takeover
Vehicle leasing company gets nod to buy rival. The Commerce Commission has given the nod for ORIX New Zealand Ltd to buy Truck Leasing Ltd, trading as Esanda FleetPartners.
The commission said it was satisfied that the proposed acquisition would not substantially lessen competition in the national markets for the provision of fleet management services and the provision of fleet auto leasing services.
ORIX New Zealand is a subsidiary of Japanese-owned ORIX Australia Corporation Ltd, which provides vehicle lease and fleet management services in both countries.
Esanda FleetPartners is the trans-Tasman specialist auto lease and fleet management business of ANZ. Truck Leasing Ltd runs the New Zealand operations of Esanda FleetPartners.