Company News Summary
Woolworths Announces ACCC Opposes ALH Proposed Acquisition of Certain Liquor Assets
Original announcement: AXX: ACCC opposes ALH proposed acq. of certain liquor assets
Woolworths reported the ACCC considered that the proposed acquisition by Australian Leisure and Hospitality Group (ALH) of five takeaway packaged liquor retailers in NSW would be likely to have the effect of substantially lessening competition in the relevant local markets. Woolworths has a direct 75% interest in ALH. The takeaway packaged liquor retailers are the Chittaway Tavern; the Albion Park Hotel; and the Ocean Beach Hotel and Umina Foodtown. In relation to the proposed acquisition of the remaining 28 hotels in related transactions, the ACCC formed the view that ALH's acquisition of these sites was unlikely to substantially lessen competition. The ACCC has advised ALH that if ALH completes the proposed acquisitions of the sites in Chittaway Bay, Albion Park, and Umina Beach, then the ACCC reserves its rights to apply to the Federal Court for appropriate orders.
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