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