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​​AP Eagers plans retail group divestment to assist AHG merger approval

( July 8, 2019, 02:32 GMT | Official Statement) -- MLex Summary: Automotive retailer AP Eagers has proposed selling its Kloster Motor Group retail company as part of a divestment plan to assist with gaining regulatory clearance from Australia's Competition & Consumer Commission for its plans to merge with Automotive Holdings Group, or AHG. The merger, if cleared, would bring together two of Australia's largest automotive retailers. The ACCC said in May that AP Eagers and AHG may have to divest themselves of car dealerships in the Newcastle/Hunter Valley Region of the state of New South Wales to address competition concerns related to their proposed combination. The deal will be the first reviewed under Australia’s merger authorization process since changes to the competition regulator’s powers in 2017.The statement follows: ...

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