Packer takeover gets go-ahead in Australia
15/09/2010
The Australian Competition and Consumer Commission (ACCC) said it had decided the acquisition would not result in adverse impacts on competition in any market.
“After an extensive investigation and rigorous consultation with interested parties, the ACCC formed the view that the proposed acquisition would not result in a substantial lessening of competition in any market,” it said in a statement.
Rockdale Beef is a Japanese-owned, vertically-integrated abattoir and feedlot business in Australia that operates a single co-located abattoir and feedlot located in Yanco, New South Wales.
Swift Australia is a subsidiary of Brazilian company JBS-Friboi with 11 abattoirs and five feedlot facilities across Australia.
“In making its decision, the ACCC considered that there will continue to be a number of competitors to Swift Australia in both feedlots and abattoirs,” ACCC chairman, Graeme Samuel, said. Mr Samuel said the ACCC considered that if the merged entity attempted to depress cattle prices to below competitive levels, “existing competitors would be able to attract business and win market share away from the merged entity”.
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