3 Apr 2006
Infratil advises that today it agreed with the Commerce Commission to delay completion of the purchase of the majority shareholding in Mana Coach Services pending a High
Court hearing on Commerce Act issues commencing 22 May 2006.
Infratil's Paul Ridley-Smith said:
"Infratil is content to delay the purchase by approximately 10 weeks in order to first deal with the Commerce Commission's claims. Infratil considers that the acquisition is not in breach of the Commerce Act but recognises that the appropriate place for the issue to be tested is the High Court."
"In the meantime, its business as usual for Mana Coach Services and its passengers as its highly regarded management team, staff and drivers remain in place."
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