The Australian Competition and Consumer Commission (ACCC) announced today that it would provide informal clearance for ANZ Terminals to buy GrainCorp Bulk Liquid Terminals (GNCLT). ANZ Terminals and GNCLT provide bulk liquid storage services at a number of ports in Australia.
Lawyers for the ACCC sought advice from Frontier Economics on some economic issues raised by the merger, which centred around competition in certain markets that both companies operate in. The clearance is subject to an undertaking from ANZ Terminals that it would not lease any more of the limited land remaining at the Port of Melbourne's Coode Island without the permission of the ACCC. ANZ Terminals must also divest a facility in South Australia, while GrainCorp must retain a bulk liquid facility in Port Kembla.
Frontier Economics regularly advises clients on a range of competition matters.
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