The Australian Competition and Consumer Commission (ACCC) cleared Aurizon Horizons' (ASX:AZJ) proposed acquisition of Flinders Logistics following amendments to the transaction to address concerns, the regulator said in a statement Thursday.
In July, the ACCC released a statement of issues, saying that the proposed transaction may lead to Aurizon having exclusive rights to load and unload bulk cargo at Berths 18 to 20 and 29 within the Port Adelaide and Port Pire in South Australia.
In response, the companies excluded Berth 29 from the transaction, allowing other firms to load and unload trains themselves, the ACCC said.
"Under the new transaction structure, rival rail haulage providers will no longer be required to rely on Aurizon to load and unload their trains, which will mean other logistics companies will be able to compete to supply mining customers," said Philip Williams, ACCC commissioner.
Price (AUD): $3.40, Change: $+0.01, Percent Change: +0.29%
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