AXX: PWR's acq of Wakeling sites approved with conditions

Key points

• ACCC approves PWR's acquisition of Wakeling Automotive's sites
• Peter Warren must divest eight dealership sites
• Acquisition aimed to address competition concerns in Macarthur region

Full summary

The Australian Competition and Consumer Commission (ACCC) has approved Peter Warren Automotive Holdings Limited's acquisition of Wakeling Automotive Group's new car dealerships, subject to conditions that Peter Warren divest eight dealership sites. The acquisition was reviewed due to concerns about substantially lessening competition in the supply of new cars, servicing, and repairs in Sydney's Macarthur region. Peter Warren offered to divest eight car dealerships in Campbelltown and Smeaton Grange, representing Kia, GMSV, RAM, Isuzu UTE, GAC, Volkswagen, and Suzuki brands, to address the ACCC's concerns.