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Aurizon's undertakings push One Rail acquisition across the regulatory line in Australia

( July 14, 2022, 01:01 GMT | Official Statement) -- MLex Summary: Australian rail giant Aurizon’s acquisition of transport peer One Rail is set to proceed, after the country’s competition regulator today said it had given the deal the green light following a court-enforceable divestment. In a statement, the Australian Competition & Consumer Commission said that without Aurizon’s undertaking to divest One Rail’s east coast business, the proposed acquisition would have reduced the number of main competitors in the supply of coal haulage in the eastern states of New South Wales and Queensland from three to two. ACCC Chair Gina Cass-Gottlieb said that, without the divestment, the deal would have resulted in higher prices or decreased service levels. The full statement by the ACCC is below; a summary of the regulator's decision follows: ...

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