Queensland-based car dealer AP Eagers claims its is well advanced in addressing issues identified by the competition regulator with its proposed takeover of Automotive Holdings Group.
The deal hit a hurdle June 24 with the Australian Competition and Consumer Commission (ACCC) expressing concerns about the merged entity’s dominance in a region of New South Wales.
ACCC Deputy Chair Delia Rickard said a combined AP Eagers and AHG would operate 46% of new car dealership sites in the Newcastle/Hunter Valley region, including those for the ten most popular brands, and would run 54% of the dealerships selling those brands.
“In metropolitan Newcastle alone, the combined company would operate 77% of dealership sites selling the ten most popular brands,” she said.
The ACCC is seeking further feedback from market participants about the proposed transaction, particularly those in the Newcastle/Hunter Valley region.
Full Content: Financial Review
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI