Spirit Super and Palisade Investment Partners Consortium - Port of Geelong

Acquirer(s)

  • Spirit Super and Palisade Investment Partners Consortium

Target(s)

  • Port of Geelong

Summary

A consortium of investors comprised of Spirit Superannuation, Commonwealth Superannuation Corporation (CSC) and the Diversified Infrastructure Fund managed by Palisade Investment Partners (Palisade) (together, the Consortium) proposes to acquire 100% of the Port of Geelong, a freehold diversified bulk commodity port in Victoria.

Consortium members hold interests in other diversified bulk commodity ports in the region. Investors managed by Palisade wholly own and operate the Port of Portland in south west Victoria. Spirit Superannuation has a minority interest in Flinders Ports, which owns and operates seven ports across South Australia, including container and bulk ports.  

Timeline

DateEvent
18/01/2022ACCC commenced informal review under the Informal Merger Review Process Guidelines.
31/03/2022ACCC published a Statement of Issues outlining preliminary competition concerns.
14/04/2022Closing date for submissions relating to Statement of Issues.
08/06/2022Timeline suspended pending receipt of further information. Former provisional decision date for announcement of ACCC's findings (9 June 2022) is delayed. ACCC will announce a proposed decision date in due course.
07/07/2022ACCC received further information from the parties. Timeline recommenced.
27/07/2022Timeline suspended pending receipt of further information from the parties. Former provisional date for announcement of findings (28 July 2022) is delayed.
26/08/2022ACCC discontinued its public review after the Consortium withdrew its application for informal clearance.