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News: QUB Australian Competition & Consumer Commission will not oppose acquisition of Asciano

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    21/07/16
    09:16
    Post #: 18323776

    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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