The ACCC in Australia, will not oppose Viva Energy's proposed acquisition of the remaining 50 per cent interest in LOC Global (LOC) from New World Corporation (NWC) after accepting a court-enforceable undertaking requiring divestments.
LOC is a joint venture between Viva Energy and NWC that operates over 100 ‘Liberty’ branded retail fuel and convenience sites across all states and territories in mainland Australia (excluding Tasmania and the ACT).
In each Australian state and territory, Viva Energy and its related companies operate a nationwide fuel supply chain with retail fuel and convenience sites, including Coles Express/Reddy Express and OTR sites.
Viva Energy and LOC overlap in retail fuel supply in metropolitan and regional areas of South Australia, Victoria, Western Australia, New South Wales, Queensland, and the Northern Territory.
While this was the main focus of the assessment, the ACCC also looked at competition in wholesale petrol supply in Adelaide but did not consider that the proposed acquisition would likely result in substantially lessening competition in this market.
Full story Viva Energy Set To Acquire LOC Retail Assets - Supermarket News
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