Commission clears Custom Fleet deal

The Commerce Commission yesterday cleared Custom Fleet (NZ) to buy the shares of Hertz Fleetlease from Ford Motor Credit Company.

Custom Fleet is a wholly owned subsidiary of the Bank of New Zealand and provides vehicle fleet leasing and a small level of fleet management services.

Hertz Fleetlease offers both fleet leasing and fleet management services in Australia and New Zealand. It also operates a small office equipment leasing business in New Zealand.