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Wilson Parking is giving up hundreds of parking lots it currently manages in Wellington, as part of a settlement agreement with the Commerce Commission.
The court battle between Wilson and the Commerce Commission began in 2018, after the parking company acquired the rights to Capital’s parking lot.
At the time, the Commerce Commission says Wilson had not requested authorization to acquire the lease.
Then customers complained that Capital’s parking lot increased its prices, prompting an investigation by the Commerce Commission.
Wilson Parking has now agreed to divest three of its parking facilities, including Capital, freeing up 850 parking spaces.
As part of the settlement, Wilson also agreed to pay $ 500,000 for Commerce Commission costs, the watchdog says.
Commission chair Anna Rawlings says it will “reintroduce a competition measure” in Wellington, giving customers an alternative to Wilson Parking.
“Anticompetitive acquisitions are a priority area for the commission and this is a reminder to companies that if there is any question about the effects of competition from a merger, they should seek our authorization before completing the deal,” it said in a statement. . today.
Under the agreement, the Commerce Commission must approve buyers of the car parking leases.
Wilson Parking will also need to notify the Commerce Commission if it plans to acquire additional parking spaces in central Wellington over the next five years.
In its own statement to 1 NEWS, Wilson Parking says that the court proceedings were terminated “without any admission of fault by Wilson Parking or any finding of non-compliance with the Commerce Act.”
“Wilson Parking is committed to continuing to invest in its operations to maintain its excellent service to our customers,” says CEO Ryan Orchard.
“We believe that our open collaboration with the Commerce Commission is mutually beneficial and is an example of how we proactively work with communities and businesses to generate support for future efforts.”
Wilson Parking says that around 20 percent of the car parking buildings in central Wellington were damaged by the Kaikōura earthquake in 2016, with some still remaining closed four years later.
