Mubasher: The Australian Competition and Consumer Commission on Wednesday announced that it has finally approved the acquisition of Australian pipeline operator APA Group by Hong Kong’s CK Infrastructure Holdings Ltd.
The deal’s total cost amounted to $9 billion, MarketWatch reported.
Australia’s antitrust regulator noted that it will not oppose the takeover after reaching a deal with a CKI-led consortium to offload assets that would pose a threat to competition when APA was merged with existing operations in the country.
The regulator's concerns have been raised on APA’s dominance in gas transmission, Rod Sims, chairman of the competition watchdog, commented.
Source: Mubasher
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