Acquirer: CPS Credit Union (SA) Ltd; Target: IOOF SA Credit Union

Acquirer(s)

  • CPS Credit Union (SA) Ltd

Target(s)

  • IOOF SA Credit Union

Summary

On 29 April 2003, the Commission was informed by the Australian Prudential Regulation Authority of the voluntary transfer of all assets and liabilities of the IOOF SA Credit Union to the CPS Credit Union.

Market definition

Markets for various financial services products in South Australia.

Competition analysis

Both of these Friendly Societies are based in South Australia.

On 27 May 2003, the Commission decided not to oppose this merger on the basis that it did not cross any of the Commission's market concentration thresholds for the exercise of market power, and therefore was unlikely to result in a substantial lessening of competition.

Merger type

Horizontal

Guidelines thresholds

Unknown

Imports above 10%

Unknown

Initiation

Other

ANZSIC code

7323