ACCC Gives Nod for GrainCorp’s Bulk Liquid Terminals business Sale

  • Nov 15, 2019 AEDT
  • Team Kalkine

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.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK