ACCC will not oppose Sydney Transport Partners WestConnext bid

Company News

by Rachael Jones

Sydney Transport Partners’ proposed acquisition of the majority interest in the WestConnex project won’t be opposed by the ACCC following the acceptance of court-enforceable undertakings.

The undertakings require Transurban (ASX:TCL) to publish important traffic data that will assist all bidders to compete for future toll road concessions.

Sydney Transport Partners is a consortium led by Transurban Limited (ASX:TCL).

The ACCC’s investigation focussed on competition for future toll road concessions in NSW.

A key issue was whether Transurban’s proposed acquisition of WestConnex, in the context of its existing interests in toll roads, would significantly reduce competition for future toll road concessions.

Sydney Transport Partners’ (ASX:TCL) is trading 0.71 per cent higher to $11.98.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.