Acquirer(s)
- Federation Centres
Target(s)
- Novion Property Group
Summary
Federation Limited and Federation Centres Limited as Responsible Entity of Federation Centres Trust No. 1 and Novion Limited and Novion RE Limited proposed to merge via schemes of arrangement.Both entities owned and managed a large number of shopping centres throughout Australia.
Market definition
Please refer to the Public Competition Assessment.Competition analysis
Please refer to the Public Competition Assessment.Public competition assessment
| Document title | Date | |
|---|---|---|
| Public Competition Assessment | ||
| Public Competition Assessment |
Undertakings
Timeline
| Date | Event |
|---|---|
ACCC commenced review under the Merger Process Guidelines. |
|
Closing date for submissions from interested parties. |
|
Former proposed decision date of 2 April delayed to allow the parties to provide more information. ACCC will announce a new decision date in due course (as outlined in the Merger Review Process Guidelines, this may be a final decision or release of a Statement of Issues). |
|
Novion and Federation announce that they are engaging with the ACCC in relation to the potential divestment of either Karingal Hub (a 50% Federation owned asset) or Bayside (a Novion owned asset), both of which are located in south east Melbourne. |
|
ACCC announced it would not oppose the proposed merger, subject to section 87B undertakings accepted by the ACCC. |