Hancock Queensland Plantations Pty Limited - proposed acquisition of licence to operate the assets of Forestry Plantations Queensland Pty Limited
Type of assessment
Informal Review
Reference
41489
Acquirer(s)
Hancock Queensland Plantations Pty Limited
Target(s)
Forestry Plantations Queensland Pty Limited
Industry
Timber plantation
Summary
The Queensland Government announced that it had sold a 99 year licence for the operation of assets of Forestry Plantations Queensland Pty Limited to Hancock Queensland Plantations Pty Limited.
Outcome of assessment
Not opposed
Total review days *
12
Commenced public review
18th May 2010
Date completed
2nd June 2010
Market definition
The ACCC considered the proposed acquisition in the context of:
- the market for the supply of softwood timber in Queensland, and
- the market for the supply of hardwood timber in Queensland.
However, the ACCC did not consider it necessary to form a concluded view in relation to market definition.
Competition analysis
The ACCC considered that the proposed acquisition was unlikely to substantially lessen competition in any relevant market given the absence of competitive overlap between the acquirer's existing assets and the acquired assets.
Review timeline
Date
Event
18th May 2010
ACCC commenced review under the Merger Review Process Guidelines.
1st June 2010
Closing date for submissions from interested parties.
2nd June 2010
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.
