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
