Gunns Plantations Limited - completed acquisition of certain assets of Great Southern Limited
Type of assessment
Informal Review
Reference
40961
Acquirer(s)
Gunns Plantations Limited
Target(s)
certain assets of Great Southern Limited
Industry
Hardwood Managed Investment Schemes
Summary
Gunns Plantations Limited, a subsidiary of Gunns Limited, has taken up the role of responsible entity for nine hardwood managed investment schemes (schemes for 1998 to 2006) formerly managed by Great Southern Limited (Great Southern). It also acquired certain assets of Great Southern used in connection with the management of the relevant schemes. The relevant schemes include hardwood plantations in the following regions:
- north-western Tasmania;
- north-eastern Tasmania;
- Green Triangle, SA/VIC;
- Albany, WA;
- Bunbury, WA;
- Kangaroo Island, SA;
- Gippsland, VIC;
- east coast, NSW; and
- east coast, Qld.
Outcome of assessment
Not opposed
Total review days *
83
Commenced public review
26th February 2010
Date completed
30th June 2010
Market definition
The ACCC considered the completed acquisition in the context of the markets for the supply of hardwood pulpwood in the:
- north-western Tasmanian region;
- north-eastern Tasmanian region; and
- Green Triangle region (south-western Victoria and south-eastern South Australia).
Competition analysis
The ACCC considered that the completed acquisition was unlikely to substantially lessen competition on the basis that Gunns Limited:
- would be constrained by alternate suppliers of hardwood pulpwood in each relevant market; and
- would not have the ability to foreclose any competitors in downstream woodchipping markets due to the availability of alternative hardwood pulpwood supply in each relevant market.
Review timeline
Date
Event
31st December 2009
Gunns Plantations Limited became the responsible entity of eight former Great Southern Limited hardwood plantation managed investment schemes (the 1998, 1999, 2000, 2001, 2002, 2003, 2004 and 2005 schemes).
5th January 2010
Gunns Plantations Limited became the responsible entity of a ninth former Great Southern Limited hardwood plantation managed investment scheme (the 2006 scheme).
26th February 2010
ACCC commenced a public review under the Merger Review Process Guidelines. Market inquiries commenced.
12th March 2010
Closing date for submissions from interested parties.
30th June 2010
ACCC announced it would not oppose the completed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
