Australia’s competition regulator on Monday, July 29, opened consultation on a proposed undertaking by Canada’s Nutrien to sell three of its regional stores to address concerns over its takeover bid of rural services firm Ruralco.
Under the draft undertaking, Nutrien’s wholly owned unit Landmark would divest three rural merchandise stores located in Broome, Alice Springs and Hughenden to address antitrust concerns raised by the regulator.
Nutrien operates in Australia through Landmark, which is one of the country’s largest agricultural businesses. Its offer for Ruralco comes amid heightened global interest in the country’s agricultural sector.
Australian Competition and Consumer Commission Deputy Chair Mick Keogh said Nutrien’s undertaking addressed only local issues in the three areas and not possible broader issues.
Full Content: Reuters
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