Peregrine Corporation - proposed acquisition of 25 BP Australia petrol retail sites in South Australia

Acquirer(s)

  • Peregrine Corporation

Target(s)

  • 25 BP Australia petrol retail sites in South Australia

Summary

Peregrine proposed to acquire 25 of BP's company owned and operated retail petrol station sites in South Australia, comprising all 16 of BP's sites in Adelaide and nine sites in regional South Australia.
As part of the arrangements to address the competition concerns, Peregrine proposed to swap sites with other retailers. One of the sites Peregrine sought to acquire was Caltex Fullarton. The ACCC decided to oppose Peregrine's proposed acquisition of Caltex Fullarton.

Market definition

Please refer to the Public Competition Assessment.

Competition analysis

Please refer to the Public Competition Assessment.

Timeline

DateEvent
15/05/2013ACCC commenced review under the Merger Process Guidelines.
20/06/2013Closing date for submissions from interested parties.
24/09/2013ACCC timeline suspended to allow the merger parties to provide further information. Former proposed decision date of 26 September 2013 delayed.
06/12/2013ACCC timeline recommenced following receipt of further information from merger parties.
13/12/2013Former proposed decision date of 19 December 2013 delayed at merger parties' request to allow them to provide further information to ACCC.
02/05/2014Further information received. ACCC timeline recommenced.
08/05/2014ACCC announced it would not oppose the proposed acquisition subject to a section 87B undertaking accepted by ACCC. However, ACCC decided to oppose the related acquisition of Caltex Fullarton by Peregrine.