ACCC will not oppose GPC’s proposed acquisition of Covs Parts following undertaking!
Mar. 29, 2016
The ACCC will not oppose GPC’s proposed acquisition of Covs Parts following a proposed modification to the transaction.
The Australian Competition and Consumer Commission (ACCC) will not oppose GPC Asia Pacific Pty Limited’s (GPC) proposed acquisition of the Covs Parts business (Covs Parts) from Automotive Holdings Group Limited (AHG) (ASX:AHG), following a proposal by GPC and AHG to modify the transaction.
“The revised transaction will mean that the regional towns of Karratha, Port Hedland, Esperance and Albany will be excluded from the transaction, and so will continue to have two generalist auto parts suppliers, providing more choice for regional trade businesses,” ACCC Chairman Rod Sims said.
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