Ashurst involved in landmark Australian competition decision

International law firm Ashurst has successfully represented AGL Energy Limited in a first-of-its-kind decision by the Australian Competition Tribunal

Ashurst involved in landmark Australian competition decision
International law firm Ashurst has successfully represented AGL Energy Limited in a landmark decision yesterday by the Australian Competition Tribunal (ACT) to grant merger authorisation for AGL's proposed acquisition of Macquarie Generation.

The acquisition of Macquarie Generation had initially been rejected by the Australian Competition and Consumer Commission (ACCC) due to competition concerns, leading AGL to seek merger authorisation from the tribunal.

Significantly, this was the first time it has made a decision under this regime since it was introduced by the then Federal Treasurer, Peter Costello, in 2007.
Ashurst partner on the matter, competition specialist Liza Carver, says the event is ground breaking in regards to competition law in Australia, and she is proud to have been able to assist AGL in delivering the outcome.

"The Tribunal applies a net public benefit test and found that AGL's acquisition of Macquarie Generation would lead to significant public benefits, while rejecting the ACCC's theories of anti-competitive outcomes from the merger,” she says. "The decision demonstrates that the Tribunal can be a real and timely alternative to seeking informal merger clearance from the ACCC. The Tribunal heard and determined the case in just three months."

Recent articles & video

Holding Redlich appoints seasoned investment funds star as new partner

New report highlights critical need to boost legal aid funding

Fast Firms of 2023 are at the forefront of tech advancements

Who are the best young legal professionals in Australia?

Hogan Lovells expands energy transition capabilities with new partner hire in Washington DC

Hicksons strengthens commercial dispute resolution team with new partner

Most Read Articles

Clayton Utz launches e-learning hub for FAR Bill 2023 compliance

King & Spalding ramps up real estate offering with Middle East partner hire

WFW Sydney partner recognised in global LGBTQ+ executives list

International Bar Association launches diversity & inclusion toolkit