Dec 15 (Reuters) - A proposal by Australia's Woolworths (WOW) to buy about two-thirds of PFD Food Services and its properties may hurt competition in the food sector, the country's competition regulator said on Tuesday.
The proposed acquisition could increase Australia's biggest grocer's already "substantial" bargaining power in its dealings with food manufacturers, Australian Competition and Consumer Commission Chair Rod Sims said in a statement.
Woolworths said in August it would pay a combined A$552 million ($415.7 million) for a 65% stake in PFD and 26 freehold properties that would be leased back to the country's second-biggest food service firm.
($1 = 1.3278 Australian dollars)
News: WOW Woolworth's food services takeover may hurt competition, says Australian regulator
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