Toll Holdings Limited - variation - s.87B undertaking

On 29 June 2015, the ACCC decided to accept a Section 87B undertaking (the undertaking) from Toll Holdings Limited (Toll) in relation to the proposed acquisition by Sea Swift Pty Ltd (Sea Swift) of certain assets of Toll Marine Logistics Australia (Toll Marine business, a business unit of Toll) (the proposed acquisition).

The undertaking was an interim measure that required Toll to maintain its Northern Territory and far north Queensland Toll Marine business pending the outcome of the ACCC’s merger review and any application to the Australian Competition Tribunal (the Tribunal).

On 21 September 2015 Sea Swift applied to the Tribunal for merger authorisation. Sea Swift withdrew its application to the Tribunal on 16 November 2015 and announced it intends to refile the application at a later date.

The ACCC has accepted a variation to the undertaking to reflect the delay arising from the withdrawal of Sea Swift’s application for merger authorisation of the proposed acquisition.