Acquirer(s)

  • Sea Swift Pty Ltd

Target(s)

  • Toll Marine Logistics Australia

Summary

Sea Swift Pty Ltd proposed to acquire assets associated with the Toll Marine Logistics business. Click here for answers to some frequently asked questions about the ACCC's decision.

Market definition

Please see below.

Competition analysis

This matter was the subject of a merger authorisation application to the Australian Competition Tribunal in 2016 [ACT 2 of 2016]. Please refer to the Australian Competition Tribunal's published decision for further details about the ACCC's analysis of this matter.

Undertakings

On 29 June 2015 the ACCC accepted an undertaking from Toll that Toll will not cease providing marine freight services in the Northern Territory and Far North Queensland before 30 November 2015 unless the matter is resolved sooner or in other agreed circumstances. The undertaking formalises commitments Toll provided to the ACCC on 11 June 2015.

Undertakings

Document title Date
Undertaking

Timeline

Date Event

ACCC commenced review under the Merger Review Process Guidelines.

Closing date for submissions from interested parties.

ACCC published a Statement of Issues outlining preliminary competition concerns.

ACCC requested further information from the merger parties.

Closing date for submissions relating to Statement of Issues.

ACCC received responses to the ACCC's request on 25 February from the merger parties. The ACCC also issued a separate information request to both parties. Original proposed decision date of 16 April 2015 delayed.

ACCC received further information from merger parties.

ACCC requested further information from the parties.

ACCC received further information requested from the parties on 29 April.

Former ACCC decision date of 11 June delayed at the merger parties' request to allow them to provide information about the revised transaction and offer undertakings to resolve the competition concerns.

The ACCC accepted a short-term section 87B undertaking, under which Toll commits to maintain the Toll Marine Logistics business until 30 November 2015 unless the matter is resolved sooner or in other agreed circumstances. This is separate from the undertakings offered by the parties to address the competition concerns, which the ACCC did not ultimately accept.

ACCC announced it would oppose the proposed acquisition.