Company or individual details
- Dometic Group AB, Dometic Australia Pty Ltd086 366 305
On 14 October 2014 the ACCC accepted an undertaking (the Undertaking) from Dometic Group AB (Dometic) and Dometic Australia Pty Ltd in relation to the proposed acquisition by Dometic Corporation (a subsidiary Dometic) of Atwood Investment Holdings LLC (Atwood) (the Proposed Acquisition).
Dometic is headquartered in Sweden and Atwood in the United States. Both have Australian subsidiaries. As part of the Proposed Acquisition, an affiliate of Dometic Corporation will acquire Atwood’s subsidiary Atwood Australia Holdings Pty Ltd and its Australian subsidiary, Aircommand Australia Holdings Pty Ltd (Aircommand).
The ACCC has been advised the Proposed Acquisition is expected to close on 17 October 2014. At the date the Undertaking was accepted, the ACCC’s merger review of the Proposed Acquisition is on-going.
The objective of the Undertaking is to allow the ACCC sufficient time to complete its merger review and, if the ACCC concludes that the Proposed Acquisition would be likely to have the effect of substantially lessening competition in any market, to require Dometic to negotiate in good faith and offer a remedy to address the ACCC’s conclusion, before any steps are taken by Dometic or any of its related bodies corporate, to integrate Aircommand into Dometic’s operations.
The Undertaking aims to achieve this objective by:
- requiring Dometic to hold its interest in Aircommand separate from Dometic pending completion of the ACCC’s review
- ensuring Aircommand continues to be a viable, effective, stand-alone and independent competitor to Dometic in Australia pending completion of the ACCC’s review
- requiring Dometic to appoint an Approved Independent Manager to manage Aircommand
- protecting confidential Aircommand information
- providing for the effective oversight of Dometic’s compliance with this Undertaking; and
- if the ACCC’s review concludes the Proposed Acquisition would have the effect, or would be likely to have the effect, of substantially lessening competition in any market, requiring Dometic to negotiate in good faith regarding a remedy, and offer to the ACCC a remedy, to address the ACCC’s conclusions.