The general public and relevant stakeholders are being called on to give comments and submissions regarding the proposed merger between Santos Limited and Oil Search Limited.
The Independent Consumer and Competition Commission (ICCC) made the announcement today after it received the Authorization Application from Santos Limited last Thursday.
Authorization for business mergers and acquisitions under Section 82 of the Independent Consumer and Competition Commission Act, 2002 (“ICCC Act”) is a statutory process through which businesses seek approval from the ICCC before proceeding with any business mergers and acquisitions that would otherwise raise serious competition concerns and potentially breach the ICCC Act.
The Authorization process requires the ICCC to invite comments and submissions from all stakeholders on any proposed transaction that is under assessment.
The public is also invited to provide comments and views on any likely public benefits and detriments this proposed merger, if it proceeds, may have on other businesses, consumers and the PNG economy at large.
All comments and submissions are to be addressed to Mr. Paulus Ain, Commissioner and Chief Executive Officer of the ICCC by or before Monday 22nd November, 2021.