GrainCorp Limited (ASX: GNC) has reported that the Australian Competition and Consumer Commission (ACCC) would not oppose the sale of Australian Bulk Liquid Terminals business to ANZ Terminals Pty Ltd.
Decision is subject to;
- An undertaking from ANZ Terminals to divest its terminal at Osborne, South Australia.
- ANZ Terminals should seek ACCC clearance for any proposed land acquisition at Coode Island, Melbourne.
Further, the proposed transaction now excludes the GNC’s bulk storage liquid storage facility at Port Kembla, New South Wales. As a result, the consideration is reduced by $18 million from approx. $350 million.
By 12:57 PM AEST, GNC was trading at $8.4, up by 8.67% relative to the previous close.
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