The Australian Competition and Consumer Commission will not object to the proposed sale of the Patrick Bass Strait Shipping and Tasmanian Freight Forwarding businesses to the Chas Kelly Transport Group.
"Toll agreed to divest these businesses pursuant to undertakings given to the ACCC in connection with Toll's acquisition of Patrick Corporation in 2006," ACCC Chairman, Mr Graeme Samuel, said.
"While Toll has subsequently sought a variation of the undertakings to accommodate a planned restructure of its business, the variation does not seek a change to obligations to divest these Patrick businesses."
The undertakings provide that the ACCC can object to a purchaser proposed by Toll for the Patrick businesses if the sale to that party is likely to result in a substantial lessening of competition in relevant markets.
"The ACCC has closely scrutinised the proposed sale in terms of its impact on competition in the Bass Strait shipping and Tasmanian freight forwarding markets.
"The end result of these investigations is that the ACCC does not believe that there are grounds for objecting to the sale of the Patrick businesses to the Chas Kelly Group."