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Tuesday, December 6, 2022

ACCC green lights Aurizon’s One Rail takeover

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Aurizon has secured the nod of the Australian Competitors and Shopper Fee (ACCC) for its proposed buy of One Rail Australia, topic to the sale of the latter’s east coast enterprise.

The regulator accepted a court-enforceable enterprise from Aurizon on the identical.

This enterprise permits Aurizon to divest the enterprise by a commerce sale or demerging it as a brand new separate ASX-listed entity.

The east coast enterprise includes One Rail’s coal haulage operations in New South Wales (NSW) and Queensland.

Upon the completion of the deal, Aurizon will proceed to carry One Rail’s bulk haulage operations in addition to rail community property in South Australia and the Northern Territory.

ACCC Chair Gina Cass-Gottlieb stated: “With out the divestment of One Rail’s east coast enterprise, the ACCC thought-about that the proposed acquisition would scale back the variety of major rivals within the provide of coal haulage in New South Wales and Queensland from three to 2, probably leading to greater costs or decreased service ranges.

“The divesture ensures that there’ll stay three major suppliers of coal haulage in New South Wales and Queensland.”

Final month, the ACCC expressed issues over the deal on competitors grounds.

In October final 12 months, Aurizon agreed to accumulate One Rail for A$2.35bn ($1.75bn).

Each Aurizon and One Rail are two of the three key suppliers of coal haulage providers in NSW and Queensland.

Aurizon is claimed to be the most important provider of coal haulage in Queensland, and the second largest in NSW.

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