The Australian Competition and Consumer Commission (ACCC) has called on for comments on Woolworths’ proposed acquisition of a supermarket site in Glenmore Ridge in Sydney.
Woolworths has proposed to acquire a Stockland-owned supermarket site at the Glenmore Ridge Village Centre.
The ACCC has released a Statement of Issues to seek further information on certain competition issues which have arisen from the ACCC’s review to date.
The ACCC’s preliminary view is that the proposed acquisition is likely to result in a substantial lessening of competition in the local Glenmore Park market.
“The ACCC considers that the proposed acquisition would be likely to have the effect of preventing or hindering competition that may otherwise have been brought to the local market by an alternative supermarket operator,” the ACCC said in a statement.
“This competition is unlikely to be otherwise introduced into the local market because of the lack of other available suitable sites for supermarket development.”
The ACCC invites further submissions from the market in response to the Statement of Issues by 4 October 2012. As a result, the ACCC's final decision will be deferred until 18 October 2012.