​​Acquisition of Australian RMS forestry assets by New Forests Asset Management sparks review

( July 19, 2019, 05:04 GMT | Official Statement) -- MLex Summary: The planned acquisition of the Tasmania hardwood-plantation assets of Resource Management Service by the forestry investment fund managed by New Forests Asset Management is set to receive regulatory scrutiny in Australia. The Australian Competition & Consumer Commission announced today that it would review the proposed deal, focusing on the acquisition’s impact on the prices for hardwood logs in the island-state of Tasmania, and the extent to which New Forests would be able to restrict the supply of hardwood logs to rival woodchip mills for processing. In a market inquiries letter, the ACCC also asked for submissions on whether New Forests would be able to restrict rival forest growers’ ability to acquire forestry services. The ACCC has set Sept. 26 as the tentative date for a decision on the matter.The ACCC's statement follows; the market inquiries letter is attached. ...