Greencross Limited
(ASX:GXL) has shrugged off competition concerns for its proposed acquisition of specialist pet care retailer City Farmers Group Holdings.
The veterinary services company says it expects to tie up the acquisition as scheduled on July 17, despite Australia’s corporate watchdog looking into the deal.
The Australian Competition and Consumer Commission (ACCC) has told Greencross it intends to undertake a merger review of the acquisition.
However, Greencross says it does not consider the acquisition raises competition concerns in any relevant market.
The proposed City Farmers acquisition was announced last month and is expected to increase Greencross’ network through enhancing its presence in Western Australia.
Greencross reported a net profit of $2.75 million in the first half of the 2014 financial year.
