Mergers

ACCC to oppose BP's acquisition of Woolworths service stations

The ACCC has announced today that it intends to oppose the proposed acquisition by B P Australia Pty Ltd of Woolworths Limited’s (ASX:WOW) network of retail service station sites.

Woolworths currently operates 531 sites and has 12 sites in development. BP supplies fuel to approximately 1,400 BP-branded service stations throughout Australia, setting fuel prices at roughly 350 of them.

“We consider that BP acquiring Woolworths’ service stations will be likely to substantially lessen competition in the retail supply of fuel,” ACCC Chairman Rod Sims said.

ACCC won't oppose proposed acquisition of OfficeMax by Platinum Equity

The ACCC will not oppose the proposed acquisition of OfficeMax Australia (OfficeMax) by Platinum Equity.

Platinum Equity owns Winc (formerly Staples Australia). Winc and OfficeMax both supply office products to commercial and government customers in Australia.

“Following extensive market inquiries and analysis of documents and data, the ACCC has decided not to oppose this transaction. The ACCC believes the transaction will lessen competition but doesn’t reach the threshold of causing a substantial lessening of competition,” ACCC Chairman Rod Sims said.

ACCC to delay consideration of BP's acquisition of Woolworths' service stations

At the request of BP and Woolworths (ASX: WOW), the ACCC has delayed its consideration of BP’s proposed acquisition of the Woolworths’ retail service station sites so that the ACCC can consider further information from the parties. The expected new decision date is 14 December 2017. 

“This is a significant decision for the retail petrol market in Australia. The extension to the consideration period will allow the ACCC to consider further information from the parties,” ACCC Chairman Rod Sims said.

ACCC won't oppose proposed acquisition of OfficeMax by Complete Office Supplies

The ACCC will not oppose the proposed acquisition of OfficeMax Australia (OfficeMax) by Complete Office Supplies (COS).

COS and OfficeMax both supply office products to commercial and government customers in Australia.

The ACCC focussed on the supply of traditional office products, particularly stationery, to large commercial and government customers.