Acquirer(s)
- Louis Dreyfus Company Asia Pte. Ltd.
Target(s)
- Namoi Cotton Limited
Summary
On 19 January 2024, Louis Dreyfus Company Asia Pte. Ltd. (LDC) announced it was proposing to acquire all of the remaining ordinary shares of Namoi Cotton Limited (Namoi) through a Scheme Implementation Agreement. LDC already holds approximately 17% of the shareholding in Namoi.
LDC operates in the sourcing, ginning, storage, shipment and trading/marketing of cotton lint and cottonseed. It also sources and trades grains and oilseeds. Namoi’s business comprises cotton ginning, cottonseed marketing, and cotton lint classing as well as warehousing and logistics services (through the Namoi Cotton Alliance joint venture with LDC) and exclusively sourcing cotton lint for the Namoi Cotton Marketing Alliance (a joint venture between Namoi and LDC) as part of its cotton marketing activities.
Market inquiries
Submissions are invited from interested parties regarding the ACCC's Statement of Issues in relation to LDC's proposed acquisition of Namoi, including on LDC's proposed s87B undertaking, by 30 May 2024.
Submissions should be forwarded electronically (preferably in PDF format) to mergers@accc.gov.au with the title: “Submission re: LDC’s proposed acquisition of Namoi."
For more details, please refer to the Statement of Issues published below.
Following 30 May 2024, queries regarding the ACCC's review may be addressed to mergers@accc.gov.au
ACCC correspondence
| Document title | Date | |
|---|---|---|
| LDC / Namoi - ACCC market inquiries letter |
Statement of issues
| Document title | Date | |
|---|---|---|
| LDC Namoi - Statement of Issues |
Timeline
| Date | Event |
|---|---|
ACCC commenced informal review under the Informal Merger Review Process Guidelines. |
|
Closing date for submissions. |
|
ACCC published a Statement of Issues outlining preliminary competition concerns. ACCC also commenced market consultation on draft proposed s87B undertaking. |
|
Closing date for submissions relating to Statement of Issues and draft proposed s87B undertaking. |
|
Proposed date for announcement of ACCC’s decision. |