The Australian Competition and Consumer Commission (ACCC) will be undertaking legal action to prevent Metcash from acquiring the Franklins supermarket chain from South Africa’s Pick n Pay Retailers.
Metcash has welcomed the consumer watchdog’s decision after it revealed last week that it will be going ahead with buying the share of Interfrank Group Holdings, despite the ACCC’s earlier rejection against the proposal.
“Metcash is delighted to have the opportunity for the Federal Court to determine whether we can proceed with the transaction. We clearly have different views to the ACCC regarding the Australian grocery market and what will ultimately be in the best interests of all consumers,” Andrew Reitzer, Metacash CEO, said in a statement.
“We consider that it will be in all parties’ interests for these issues to be authoritatively determined by the Federal Court as soon as possible.”
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