The Australian Competition and Consumer Commission has decided to allow to proposed acquisition of Macquarie Generation assets from AGL Energy after initially blocking the deal, according to reports.
The ACCC had initially ruled that the $1.4 billion acquisition would reduce competition in the energy retail markets within New South Wales. Last month, however, that ruling was overturned on appeal byt eh Australian Competition Tribunal.
Now, the competition watchdog said, it will allow the Tribunal’s decision to stand without an appeal.
AGL Energy will acquire Macquarie’s coal-fired assets in a deal that would result in the nation’s three largest energy producers – AGL, Origin Energy and EnergyAustralia – controlling between 70 and 80 percent of the generation capacity in New South Wales, according to reports.
In a statement, ACCC Chairman Rod Sims said he was “disappointed” by the Tribunal’s final ruling on the matter.
Full content: Argus Media
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 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