The competition watchdog has raised concerns that the Spirit Super and Palisade consortium’s proposed acquisition of GeelongPort could weaken competition for bulk cargo services in Victoria.which was announced in early January
The ACCC is worried that investment group Palisade could have influence over two ports, the Port of Portland and the Port of Geelong.The two ports both handle cargo for customers in the grain, timber, fertiliser and wind farm industries. Investors managed by Palisade already wholly own the port of Portland. If the Spirt Super consortium buys the port of Geelong, Victoria’s second biggest port, Palisade would have a 49 per cent interest.ACCC Commissioner Stephen Ridgeway said two ports handled more than half of Victoria’s bulk cargo, and that the market structure was unlikely to change in the foreseeable future.
Source: News Formal (newsformal.com)
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