7-Eleven Stores Pty Ltd - s.87B undertaking

On 1 October 2010, the ACCC accepted an undertaking (the Undertaking) from 7-Eleven Australia Pty Ltd (7-Eleven) in relation to 7-Eleven's proposed acquisition of the retail assets of Mobil Oil Australia Pty Ltd (Mobil) (the 7-Eleven Proposed Acquisition).

The objective of the Undertaking is to address the ACCC's competition concerns which would otherwise arise as a consequence of the 7-Eleven Proposed Acquisition.  The Undertaking aims to maintain competition through:

• the creation of a viable, effective, stand-alone independent and long term competitor for the retail supply of petrol, diesel and automotive LPG in each of the markets in which a divestiture business is located; and
• ensuring that the ACCC approved purchasers of the divestiture businesses have the necessary assets, rights and obligations to compete effectively in the relevant markets.

At the same time, the ACCC also accepted a similar undertaking from Peregrine Corporation Pty Ltd in relation to its proposed acquisition of Mobil's current South Australian retail assets from 7-Eleven.