The Australian Competition and Consumer Commission will not intervene in the acquisition by San Miguel Corporation of Berri Limited, ACCC Chairman, Mr Graeme Samuel, said today.
"The acquisition of Berri by a company with a long standing involvement with The Coca-Cola Company (TCCC) raises the possibility of competition concerns similar to those identified by the ACCC in relation to Coca-Cola Amatil's proposed acquisition of Berri last year.
"However, the ACCC is required to administer the law in section 50 of the Trade Practices Act 1974 on the basis of information currently before it."
"San Miguel has stated to the ACCC that it does not have 'any intention' to enter into any contract, arrangement or understanding with CCA and/or TCCC relating to the manufacture, distribution, marketing or supply of any non-alcoholic beverage in Australia."
"Nevertheless, the ACCC is conscious of the capacities of the parties to bring about a result that the ACCC moved to prevent last year."
"In this respect, the ACCC will very closely scrutinise any proposed contract, arrangement or understanding involving San Miguel, CCA and/or TCCC relating to the manufacture, distribution, marketing or supply of any non-alcoholic beverage in Australia. The ACCC will also seek to ensure that competitive harm to Australian consumers does not occur as a consequence of any such arrangement".