One relates to Ngai Tahu Tourism Ltd’s proposed acquisition of jetboating business KJet and related assets, including 100% of the Time Tripper shares, owned by Shaun Kelly and Skeggs Group Ltd.
Should it proceed, Ngai Tahu Tourism would own three jetboat businesses — KJet, Shotover Jet and Dart River Adventures.
In its statement of preliminary issues, the commission has outlined how mergers and acquisitions are assessed using the "substantial lessening of competition test".
"If the lessening of competition as a result of the proposed acquisition is likely to be substantial, we will not give clearance."
Ngai Tahu submitted if the acquisition was not approved, the parties would continue as separate businesses, but an alternative buyer may be sought for KJet.
In its application, Ngai Tahu Tourism submitted other adventure tourism activities were close substitutes for jetboating, with tourists choosing between activities based on the amount of time and money they had, and operators competed for the business of tourists.
It also noted defining a narrow market, or markets, just focused on jetboating would not capture the competitive dynamics between jetboating activities and other adventure tourism activities.
Further, Ngai Tahu submitted the acquisition would not be likely to substantially lessen competition, because Shotover Jet and KJet were not each other’s closest competitors.
Instead, the merged entity would continue to be "significantly constrained" by at least five other jetboat operators in the Queenstown-Lakes region, other adventure tourism operators and non-adventure activities.
In its view, existing competing jetboat operators were not operating at capacity and could expand their operations and there was also "significant potential" for new operators to start up in the district.
Real Journeys Ltd (trading as RealNZ) has also applied to the commission to acquire Spirit of Queenstown and associated assets from Southern Discoveries Ltd . The parties overlap in the supply of scheduled tourist cruises on Lake Wakatipu.
If approved, RealNZ would own and operate two separate boats providing cruises — Spirit of Queenstown and TSS Earnslaw.
RealNZ submitted the different experiences the boats offered meant they were not particularly close substitutes or competitors.
Earnslaw offered transport across the lake and experiences at Walter Peak High Country Farm, while Southern Discoveries offered dining experiences while cruising on the lake.
The merged entity would be constrained by the multitude of other tourism experiences available and providers, including Skyline Enterprises Ltd, with which RealNZ and Southern Discoveries compete more closely than they do each other.
RealNZ submitted the acquisition would not be likely to substantially lessen competition in the market because, in its view, numerous competitors would remain.
Interested parties can make submissions on the applications by September 14.
