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​AP Eagers wins conditional authorization for its acquisition of Australian car retailer AHG

( July 25, 2019, 00:21 GMT | Official Statement) -- MLex Summary: Car retailer AP Eagers has won approval for its planned acquisition of Automotive Holdings Group, after the country’s competition regulator accepted its undertaking to sell off its dealerships in the Newcastle and Hunter Valley region, in eastern Australia. In a statement today, the Australian Competition & Consumer Commission said that the divestment undertaking, announced earlier this month, had been enough to reassure it that competition could be maintained in those retail markets. “If we had allowed AP Eagers to combine its dealerships with AHG’s in this region, the reduction in competition in that market may have meant consumers would pay more for new cars,” ACCC Commissioner Stephen Ridgeway said in a statement. The merging parties had applied for the deal to be authorized — the first time this clearance mechanism had been employed since new rules came into effect in 2017.The full ACCC statement follows; the ACCC determination can be found here. ...

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