(Adds GrainCorp statement, background)
Nov 15 (Reuters) - Australia's competition regulator on Friday said it will not oppose the acquisition of GrainCorp's (GNC) Australian bulk liquid terminals business by ANZ Terminals after the companies committed to ease concerns over market concentration.
ANZ Terminals undertook to divest its Osborne facility in south Australia, and GrainCorp agreed to retain the bulk liquid facility at Port Kembla in New South Wales, the Australian Competition and Consumer Commission (ACCC) said.
GrainCorp said the purchase price for the bulk liquid terminals would fall by A$18 million ($12.3 million) due to GrainCorp retaining the Port Kembla facility.
It had originally planned to sell the terminals for A$350 million as part of an ongoing portfolio review.
"It (the Port Kembla terminal) will continue to be an important part of GrainCorp's grain ports strategy to diversify into non-grain activities and is expected to continue to deliver positive EBITDA results," Chief Executive Mark Palmquist said.
The ACCC had earlier expressed concerns about the deal due to market concentration.
GrainCorp also said it is completing preparations for the demerge of its malting division.
($1 = 1.4588 Australian dollars)
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