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BRIEF-Australian Competition & Consumer Commission will not oppose acquisition of Asciano

Published 21/07/2016, 09:14 am
© Reuters.  BRIEF-Australian Competition & Consumer Commission will not oppose acquisition of Asciano

July 21 (Reuters) - Australian Competition & Consumer Commission (ACCC):

* Will not oppose acquisition of Asciano

* Concluded there is not likely to be a substantial lessening of competition in any market

* Will not oppose proposed acquisition of Asciano by a consortium comprising Qube, Brookfield infrastructure partners

* Parties have restructured proposed acquisition so that ACFS will no longer be vertically aligned with Patrick

* Effect of proposed acquisition is substitution of Qube for ACFS as downstream container logistics provider linked to Patrick

* Considered NSW ports has an incentive to limit any discrimination by Patrick container terminals in favour of Qube's interests

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