Waste manager, Bingo Industries
(ASX:BIN) has offered to divest its eastern Sydney waste processing plant to address anti-competition concerns related to its planned acquisition of Dial A Dump.
The Australian Competition and Consumer Commission (ACCC) in November raised concerns the deal could have negative impacts on the market for processing, landfill and collections of building and demolition waste.
The $578 million takeover could make Bingo the biggest waste collector in Sydney.
A consultation process, launched today, will seek the opinions of market participants on whether Bingo's proposed divestment is likely to address potential competition issues.
Bingo MD and CEO, Daniel Tartak says he remains firmly of the view that the acquisition would not substantially lessen competition in any relevant market including landfill and building and demolition processing.
Shares in Bingo Industries
(ASX:BIN) trading 0.27 per cent higher at $1.84.
