Acquirer(s)
- Olam Agri Holdings Limited
Target(s)
- Namoi Cotton Limited
Summary
On 21 March 2024, Olam Agri Holdings Limited (Olam) announced it was proposing to acquire Namoi Cotton Limited (Namoi).
Olam, via subsidiaries including Queensland Cotton Corporation Pty Ltd, supplies ginning services to growers, and acquires and markets cotton lint and cottonseed. Olam also has a 20% interest in ProClass Pty Ltd, which supplies cotton lint classing services. Namoi’s business comprises cotton ginning, cottonseed and cotton lint marketing, and cotton lint classing as well as warehousing and logistics services as part of its cotton marketing activities.
On 20 June 2024, the ACCC published a Statement of Issues outlining preliminary competition concerns in relation to the proposed acquisition.
On 1 October 2024, the ACCC discontinued its public review and consultation on the proposed s87B undertaking after Olam advised the proposed acquisition would not be proceeding.
ACCC correspondence
| Document title | Date | |
|---|---|---|
| Olam / Namoi - ACCC market inquiries letter |
Statement of issues
| Document title | Date | |
|---|---|---|
| Olam/Namoi - Statement of Issues |
Timeline
| Date | Event |
|---|---|
ACCC commenced informal review under the Informal Merger Review Process Guidelines. |
|
Closing date for submissions. |
|
Former provisional date for announcement of findings (4 July 2024) brought forward. ACCC published a Statement of Issues outlining preliminary competition concerns. |
|
Closing date for submissions relating to Statement of Issues. |
|
ACCC requested further information from the parties and 3rd parties. Former proposed date for announcement of findings (22 August 2024) delayed. ACCC will announce a proposed decision date in due course. |
|
ACCC received further information from the parties and 3rd parties. Timeline recommenced. |
|
ACCC commenced market consultation on proposed s87B undertaking. |
|
ACCC discontinued its public review and consultation on the proposed s87B undertaking after Olam advised that the proposed acquisition would not be proceeding. |