News: EDV Australia's ACCC Says Endeavour's Proposed Acquisition Of Rye Hotel Not Opposed

Dec 7 (Reuters) - Australian Competition and Consumer Commission:

• ENDEAVOUR'S PROPOSED ACQUISITION OF RYE HOTEL NOT OPPOSED
• WILL NOT OPPOSE ENDEAVOUR GROUP LIMITED’S PROPOSED ACQUISITION OF THE RYE HOTEL ON THE MORNINGTON PENINSULA IN VICTORIA
• DID GIVE CLOSE CONSIDERATION TO WHETHER PROPOSED ACQUISITION WILL LEAD TO SUBSTANTIAL INCREASE IN LOCAL MARKET CONCENTRATION IN LIQUOR RETAILING
• DID NOT HAVE ANY CONCERNS ON ACCOMMODATION, ETC GIVEN NUMBER OF COMPETITORS IN AREA OFFERING THESE SERVICES
• PROPOSED ACQUISITION IS UNLIKELY TO MATERIALLY REDUCE THE COMPETITIVENESS OF OTHER STORES THAT OPERATE UNDER THE THIRSTY CAMEL BRAND
• FOUND UNIQUE CIRCUMSTANCES MEANT TRANSACTION IS NOT LIKELY TO LESSEN COMPETITION IN MARKET
• FOUND TRANSACTION NOT LIKELY TO LESSEN COMPETITION EVEN THOUGH PROPOSED ACQUISITION TO COMBINE TWO LARGEST LIQUOR STORES IN LOCAL AREA

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