The Australian Competition and Consumer Commission (ACCC) announced that it has delayed its consideration of BP’s proposed acquisition of Woolworth’s service stations, this time at the request of both parties involved.
Following a previous delay where the proposed decision date was pushed from October to November, the decision has been delayed yet again.
ACCC chairman Rod Sims said it was a significant decision for the Australian petrol market.
“The extension to the consideration period will allow the ACCC to consider further information from the parties,” he said.
“This potential transaction involves complex, extensive data analysis of fuel prices across all fuel sites in Australia over a number of years, and it’s vital we take the time to thoroughly assess its likely impact.”
A statement from BP said the company remained confident that clearance will be granted.
“We will continue to work with the ACCC to progress through the process and secure approval for the transaction,” it said.
“In pursuing this transaction, BP seeks to lead a new chapter in Australia’s retail story and transform the convenience sector.
“Leveraging BP’s global expertise in retail convenience, BP will bring a new offer to Australian consumers designed to consistently beat their expectations.”
In August 2017, the ACCC released a statement of issues regarding the acquisition and outlined that the acquisition may harm competition cross metro areas for retail fuel supply.
There is expected to be a new decision on December 14th.