July 21 (Reuters) - Australian Competition & Consumer...

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