Peregrine undertook to divest certain sites to other retailers, including Caltex, to address the ACCC's competition concerns with its acquisition from BP. In a separate but related transaction, Peregrine proposed to acquire Caltex Fullarton from Caltex.
The ACCC reached its decision to oppose the proposed acquisition of Caltex Fullarton based on market inquiries conducted in the review of Peregrine's acquisition from BP.
Outcome of assessment
Total review days *
Commenced public review
24th December 2013
8th May 2014
The ACCC considered the proposed acquisition with reference to a local market in the area surrounding Caltex Fullarton.
The ACCC opposed the proposed acquisition of Caltex Fullarton because Caltex Fullarton appears to compete closely with BP Glenunga (which Peregrine will acquire from BP) and other nearby Peregrine petrol stations. The proposed acquisition would have eliminated this close competition.