ACCC raises concerns on Graincorp deal

The competition watchdog has expressed concerns over the proposed acquisition of Graincorp’s Australian bulk liquid terminals business by ANZ Terminals.

“Our preliminary view is that the acquisition will remove a significant competitor in what is an already concentrated industry in New South Wales, Victoria, and South Australia,” Australian Competition and Consumer Commission Chair Rod Sims said in a statement.

As a part of an ongoing portfolio review, agribusiness company Graincorp said in March it planned to sell GrainCorp Liquid Terminals Australia to ANZ Terminals for an enterprise value of $350 million.

AAP

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