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BRIEF-Australian Competition and Consumer Commission updates on Asciano bid

Published 22/12/2015, 09:27 am
BRIEF-Australian Competition and Consumer Commission updates on Asciano bid
AIO
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Dec 22 (Reuters) - Asciano Ltd AIO.AX :

* accc to consult on proposed undertakings from Brookfield AIO.AX

* Accc - revised undertakings have been proposed to address preliminary competition concerns identified by accc in statement of issues released on 15 October 2015

* Accc- commenced market consultation on proposed revised undertakings offered by a consortium assembled by Brookfield asset management inc

* Accc - says indicative decision date for the accc's review of the Brookfield proposed acquisition is currently the same

* Accc - "considers that its views on the undertakings will benefit significantly from market feedback"

* Accc - anticipates making its final decision on the revised undertakings by 18 February 2016

* Accc - revised proposal involves commitment to divest to an independent party

* Accc - revised proposal involves commitments to ensure independent operation and decision making at brookfield's dalrymple bay coal terminal

* Accc- now seeks views from market participants to assist accc to determine whether revised undertakings would be likely to alleviate accc's competition concerns

* Accc - following market consultation, the accc will decide whether to accept or reject the proposed undertakings

* Source text for Eikon ID:nASX1xw3xJ

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