A PYMNTS Company

ACCC will not stand in the way of AGL’s Loy Yang acquisition

By  |  May 24, 2012

The Australian Competition and Consumer Commission will not oppose AGL Energy’s proposed acquisition of Great Energy Alliance Corporation. Great Energy owns Loy Yang. After review and consultation with interested parties, the ACCC determined that following an AGL-Loy Yang merger, “strong competition” in the market for wholesale supply of electricity would remain. Moreover, the vertical integration of Loy Yang into AGL would not pose a barrier to entry for new rivals.

Full content: ACCC Press Release

 

Related content: The Australian Approach to Competition Law Compliance Programs

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.