- Novion Property Group
SummaryFederation Limited and Federation Centres Limited as Responsible Entity of Federation Centres Trust No. 1 and Novion Limited and Novion RE Limited proposed to merge via schemes of arrangement.
Both entities owned and managed a large number of shopping centres throughout Australia.
Market definitionPlease refer to the Public Competition Assessment.
Competition analysisPlease refer to the Public Competition Assessment.
Public competition assessment
|Novion Property Group section 87B Undertaking - Signed 21 May 2015 ( PDF 2.35 MB )||21 May 2015|
|Federation Centres section 87B Undertaking - Signed 21 May 2015 ( PDF 5.69 MB )||21 May 2015|
|04/02/2015||ACCC commenced review under the Merger Process Guidelines.|
|25/02/2015||Closing date for submissions from interested parties.|
|01/04/2015||Former proposed decision date of 2 April delayed to allow the parties to provide more information. ACCC will announce a new decision date in due course (as outlined in the Merger Review Process Guidelines, this may be a final decision or release of a Statement of Issues).|
|15/04/2015||Novion and Federation announce that they are engaging with the ACCC in relation to the potential divestment of either Karingal Hub (a 50% Federation owned asset) or Bayside (a Novion owned asset), both of which are located in south east Melbourne.|
|21/05/2015||ACCC announced it would not oppose the proposed merger, subject to section 87B undertakings accepted by the ACCC.|