Peregrine Corporation Pty Ltd - s.87B undertaking

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

The objective of the Undertaking is to address the ACCC's competition concerns which would otherwise arise as a consequence of the Peregrine 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 purchaser of the divestiture businesses have the necessary assets, rights and obligations to compete effectively in the relevant market.

At the same time, the ACCC also accepted a similar undertaking from 7- Eleven in relation to its proposed acquisition of Mobil's other retail assets.