July 25, 2019 / 12:03 AM / 3 months ago

Australian antitrust watchdog raises concerns on Graincorp-ANZ Terminals deal

July 25 (Reuters) - Australia’s competition regulator on Thursday expressed concerns over the proposed acquisition by ANZ Terminals of Graincorp’s Australian bulk liquid terminals business.

“Our preliminary view is that the acquisition will remove a significant competitor in what is an already concentrated industry in New South Wales, Victoria, and South Australia,” Australian Competition and Consumer Commission (ACCC) Chair Rod Sims said in a statement.

As a part of an ongoing portfolio review, agribusiness company Graincorp said in March it planned to sell GrainCorp Liquid Terminals Australia to ANZ Terminals for an enterprise value of A$350 million ($244 million). ($1 = 1.4335 Australian dollars) (Reporting by Shanima A in Bengaluru; editing by Richard Pullin)

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