According to Queensland Business Review, Boral has acquired a large-scale quarry at Moy Pocket, a smaller quarry at Wondai and a concrete plant at Gympie through the purchase of Paul McDonald?s Sunshine Coast Quarries.
The ACCC found that with the impending entry of Neilsen into the area with its own quarry in Kin Kin, the acquisition was ?unlikely to substantially lessen competition in the relevant markets?. The regulator took 40 days to reach its decision.
The deal was brokered by legal firm Mulraneys, which said in a statement it worked closely with Sunshine Coast Quarries.
A resident of Noosaville, Paul McDonald is a 30-year veteran of the civil construction, mining, resource and property development industries, and plans to continue with ?extensive commercial business interests in Australia and the United States?.
Boral and McDonald plan to settle by the end of the month.
SOURCE: Queensland Business Review