Lion Nathan bid cleared

The Commerce Commission last night cleared brewer Lion Nathan to buy up to 100 per cent of Montana.

Lion holds 28 per cent of the company and signalled it wanted to lift its holding to 51 per cent. Montana chairman Peter Masfen has signalled he will also seek to raise his 20 per cent shareholding to 51 per cent.

Some businesses told the Commerce Commission they were concerned about the joining of Montana's and Lion's significant liquor industry interests.

Commission chairman John Belgrave said the concerns were taken into account but the strong competition remaining in each market, the wide range of outlets available and the strong buying power of supermarkets would constrain a merged entity.