Sydney Transport Partners Consortium (including Transurban) - proposed acquisition of WestConnex interest


Type of assessment Informal Review
Reference 63264
Acquirer(s)
Sydney Transport Partners Consortium (including Transurban)
Target(s)
WestConnex
Industry Toll roads
Summary
Sydney Transport Partners Consortium (including Transurban) proposes to acquire a majority interest in WestConnex.
Date commenced 26th February 2018
Project staff Tim Byrne
Daniel McCracken-Hewson
Contact Email mergers@accc.gov.au
Market inquiries
The ACCC recently published a Statement of Issues, in which the ACCC raised preliminary concerns that the proposed acquisition may substantially lessen competition in the competitive bidding market for future new toll road concessions in NSW.

Transurban offered a draft proposed undertaking to the ACCC on 9 August 2018. The letter regarding the undertaking is available below, along with the proposed undertaking itself.

Submissions are to be received by the ACCC no later than 9am on Wednesday 15 August 2018 and should be emailed to mergers@accc.gov.au. In the subject line of the email, please include the following words "Submission re: STP-WestConnex - attention Tim Byrne/Adelle Low".
  • Market inquiries letter for proposed undertaking
    9th August 2018
    MER18+8382.pdf (1.0 MB)
  • Draft proposed s87B undertaking - for consultation
    9th August 2018
    MER18+8383.pdf (698.7 KB)
Statement of issues
Indicative timeline
Date Event
26th February 2018 ACCC commenced review under the Merger Process Guidelines.
19th March 2018 Closing date for submissions from interested parties.
6th April 2018 Former proposed decision date of 26 April delayed to allow provision of requested information from the Sydney Transport Partners Consortium.
20th April 2018 ACCC received further information from the Sydney Transport Partners Consortium.
17th May 2018 ACCC published a Statement of Issues outlining preliminary competition concerns.
31st May 2018 Closing date for submissions relating to Statement of Issues.
19th July 2018 Former decision date of 19 July delayed to allow more time to consider the competition issues and obtain further information from the parties and market participants.
9th August 2018 Draft 87B undertaking proffered by Transurban. ACCC commenced market inquiries.
21st August 2018 Former proposed decision date of 6 September 2018 brought forward to 30 August 2018 to take into account the NSW Government's timetable for the sale of WestConnex.
30th August 2018 Proposed date for announcement of ACCC's final decision.