AGL Energy Limited - proposed acquisition of Sydney Gas Limited
Type of assessment
Informal Review
Reference
36060
Acquirer(s)
AGL Energy Limited
Target(s)
Sydney Gas Limited
Industry
Coal seam gas
Summary
On 24 December 2008, AGL Energy Ltd announced a bid to acquire all of the issued shares in Sydney Gas Ltd.
Outcome of assessment
Not opposed
Total review days *
18
Commenced public review
24th December 2008
Date completed
22nd January 2009
Market definition
The ACCC considered the proposed acquisition in terms of the markets for the exploration, production, wholesale supply and retail supply of gas in New South Wales and on the eastern seaboard of Australia. However, the ACCC did not consider market definition to be determinative in conducting the competition analysis for this matter.
Competition analysis
The ACCC formed the view that the proposed acquisition was unlikely to result in a substantial lessening of competition in the relevant markets. Relevant factors considered by the ACCC included the level of horizontal aggregation and the number of competitors remaining in the relevant markets post-acquisition.
Review timeline
Date
Event
24th December 2008
ACCC commenced review under the Merger Review Process Guidelines.
16th January 2009
Closing date for submissions from interested parties.
22nd January 2009
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
