A PYMNTS Company

Australia: Regulator queries toll sea freight sale

By  |  February 19, 2015

Australia’s anti-trust regulator on Thursday raised concerns about Toll Holdings Ltd’s planned sale of a regional shipping business to an Australian rival, warning it may increase freight costs for disadvantaged customers.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Australian Competition and Consumer Commission said the planned $35 million sale of Toll Marine Logistics to Cairns-based Sea Swift could have serious consequences for remote communities in northern Australia.

    “The ACCC is concerned that the proposed acquisition is likely to substantially lessen competition in the supply of marine freight services in the Northern Territory and Queensland, including the Torres Strait Islands,” ACCC Chairman Rod Sims said in a statement.

    The commission called for submissions and said it would announce a final decision on April 16.

    Full Content: Reuters

     

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