Australian competition regulator clears bids for Melbourne lease

The Australian Competition and Consumer Commission (ACCC) will not oppose two separate proposals by consortia to acquire the 50-year lease of the Port of Melbourne, following a review of potential cross-ownership interests and vertical relationships.

The ACCC’s review of both the IFM Consortium and QIC Consortium proposals focused primarily on the cross-ownership interests in the Port of Melbourne, North South Wales (NSW) Ports, and the Port of Brisbane, and vertical relationships with port services providers operating at the Port of Melbourne.

ACCC chairman, Rod Sims, said: “The ACCC conducted extensive inquiries with a large number of port users and stakeholders at various levels of the supply chain. The ACCC has formed the view that neither acquisition would result in a substantial lessening of competition.”