National Australia Bank Limited - proposed acquisition of AXA Asia Pacific Holdings Limited - proposed undertakings
Type of assessment
Informal Review
Reference
43421
Acquirer(s)
National Australia Bank Limited
Target(s)
AXA Asia Pacific Holdings Limited
Industry
Banking
Summary
On 19 April 2010, the ACCC announced its decision to oppose the proposed acquisition of AXA Asia Pacific Holdings Limited (AXA) by National Australia Bank Limited (NAB) (see www.accc.gov.au/nab_axareview).
Subsequently NAB and AXA proposed section 87B undertakings providing for the divestiture of the North platform administration business carried out by AXA to IOOF Holdings Limited (proposed undertakings).
The ACCC concluded that the proposed undertakings did not remedy the ACCC's competition concerns arising from the proposed acquisition. Please see the Public Competition Assessment below detailing the reasons for the ACCC's decision.
Outcome of assessment
Opposed
Total review days *
24
Commenced public review
9th August 2010
Date completed
9th September 2010
Market definition
Please see Public Competition Assessment below.
Competition analysis
Please see Public Competition Assessment below.
Public competition assessment
Public Competition Assessment 9th September 2010 D10+3673911.pdf (181.8 KB)
Other
Draft 87B undertaking offered by AXA Asia Pacific Holdings Limited 9th August 2010 D10+3657748.pdf (103.7 KB)
Draft 87B undertaking offered by National Australia Bank Limited 9th August 2010 D10+3657744.pdf (194.5 KB)
