Australia's competition watchdog said on Thursday it is not opposed to the country's largest integrated terminal and freight logistics provider, Qube, acquiring Melbourne International RoRo & Auto Terminal (MIRRAT), subject to certain undertakings by the firm.
Qube's deal to buy Melbourne's RoRo terminal had raised concerns in October last year, with The Australian Competition and Consumer Commission (ACCC) pointing out that the potential deal might have a significant impact on competition in downstream services.
"In the unique circumstances of this transaction, where there is already a similar undertaking in other ports, and where MIRRAT itself is already subject to an undertaking due to its existing vertical integration with shipping, after careful consideration we decided to accept the undertaking," ACCC Chair Gina Cass-Gottlieb said.
"The ACCC is not generally supportive of such undertakings."
The undertaking for the deal requires Qube's unit, Australian Amalgamated Terminals, which is cracking the deal to take over RoRo, to not discriminate between terminal users in favour of its own interests in the automotive supply chain, among other measures, the ACCC stated.
In a separate statement, Qube said it welcomed ACCC's acceptance of the undertaking.
(Reuters - Reporting by Shivangi Lahiri in Bengaluru; Editing by Alan Barona)