Woolworths Ltd (ASX:WOW) is seeking the green light from Australia’s competition regulator for its plans to buy a portfolio of pubs from the Laundy Hotel Group.
According to the Australian Financial Review, the supermarket giant has approached the Australian Competition and Consumer Commission and the ACCC has confirmed that it will seek submissions from interested parties once the deal is announced.
The paper reports that if Woolworth’s planned purchase was to go ahead it would become the biggest hotelier in New South Wales.
Just last month the ACCC cleared Woolworth’s $340 million takeover of direct wine marketer, The Cellarmasters Group.
Woolworths generated an interim net profit of $1.2 billion in the last half of 2010.
