Aussies Fail To Block Metcash's $225M Grocery Chain Buy

Law360, New York (August 25, 2011, 12:33 PM EDT) -- An Australian court on Thursday refused to block Metcash Trading Ltd. from buying the Franklins chain of grocery stores from South Africa's Pick n Pay Retailers Ltd. for AU$215 million ($225 million), despite the government's antitrust concerns.

Federal Court Justice Arthur Robert Emmett rejected the Australian Competition and Consumer Commission's efforts to block the country's largest grocery and liquor wholesaler from adding another chain to its holdings, Metcash said.

The court is not due to release the reasoning for the ruling until Friday, but Metcash said...
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