Sydney Transport Partners Consortium (including Transurban) - proposed acquisition of WestConnex interest

Acquirer(s)

  • Sydney Transport Partners Consortium (including Transurban)

Target(s)

  • WestConnex

Summary

Sydney Transport Partners Consortium (including Transurban) proposes to acquire a majority interest in WestConnex.

Market definition

Please refer to the Public Competition Assessment.

Competition analysis

Please refer to the Public Competition Assessment.

Timeline

DateEvent
26/02/2018ACCC commenced review under the Merger Process Guidelines.
19/03/2018Closing date for submissions from interested parties.
06/04/2018Former proposed decision date of 26 April delayed to allow provision of requested information from the Sydney Transport Partners Consortium.
20/04/2018ACCC received further information from the Sydney Transport Partners Consortium.
17/05/2018ACCC published a Statement of Issues outlining preliminary competition concerns.
31/05/2018Closing date for submissions relating to Statement of Issues.
19/07/2018Former decision date of 19 July delayed to allow more time to consider the competition issues and obtain further information from the parties and market participants.
09/08/2018Draft 87B undertaking proffered by Transurban. ACCC commenced market inquiries.
21/08/2018Former proposed decision date of 6 September 2018 brought forward to 30 August 2018 to take into account the NSW Government's timetable for the sale of WestConnex.
30/08/2018ACCC announced it would not oppose the proposed acquisition, subject to section 87B undertakings accepted by the ACCC.
During the course of the review the ACCC also made a number of document and information requests to the parties that are not all separately identified in the entries above. Collectively, the parties took 29 business days to respond to these other requests.