Latest Australian Competition And Consumer Commission News

Elders Limited reported a robust half-year performance for the period ending 31 March 2025, with profit after tax surging 190% to $33.6 million and revenue rising 5% to $1.41 billion. The company’s growth was driven by strong livestock prices, real estate acquisitions, and disciplined cost management.

The Australian Competition and Consumer Commission has resumed its review of DP World Australia's proposed acquisition of Silk Logistics, setting a new decision deadline that extends beyond key transaction milestones.

The ACCC has decided not to oppose Insurance Australia Group’s proposed acquisition of RACQ Insurance, finding that competition in Queensland’s motor and home contents insurance markets remains robust despite the deal.

Ventia Services Group Limited delivered strong financial results for 2024, highlighted by a 12.8% rise in NPATA and a record 92% contract renewal rate, while reaffirming growth guidance despite ongoing ACCC proceedings.

Webjet Group Limited reports resilient FY25 results following its recent demerger, with a strategic plan to double transaction value by FY30. Despite macroeconomic headwinds, the company maintains strong cash reserves and outlines ambitious growth initiatives.

Cleanaway Waste Management has received regulatory clearance from the ACCC to acquire Citywide, marking a significant step in its expansion strategy with completion expected by fiscal year-end 2025.

The Australian Competition and Consumer Commission (ACCC) has decided not to oppose Cleanaway Waste Management’s proposed acquisition of Citywide Waste, finding the deal unlikely to reduce competition in Melbourne’s putrescible waste services market.

Insurance Australia Group (IAG) has entered a strategic alliance with The Royal Automobile Club of Western Australia (RAC), acquiring RAC Insurance and securing a 20-year exclusive distribution agreement. This move significantly boosts IAG's presence in Western Australia and is expected to enhance earnings and operational synergies.

Comet Ridge has made significant strides in its Mahalo Gas Hub development, approving upstream FEED and progressing pipeline connections, supported by a strong cash position of $19.3 million. These developments position the company to address Australia's tightening east coast gas market.

Elixir Energy wraps up Daydream-2 well operations and prepares for next appraisal in a strengthening gas market, while progressing farmout talks for Australian and Mongolian assets.

Viva Energy delivered a slight increase in sales volumes for 4Q2024 and a record Commercial & Industrial segment performance, despite a disruptive refinery outage and challenging retail conditions. The company also secured key approvals for its Liberty Convenience acquisition, aiming for completion by March 2025.