Origin Energy seeks ACCC approval of plan to buy unnamed NSW Government electricity assets

First 10 of 10 paragraphs shown Closing date for submissions is 13 September 2010.
The Australia Competition and Consumer Commission has posted a call for submissions to fuzzy Origin Energy plans to purchase undefined parts of the assets, on offer, by the NSW Government .
28th October 2010 decision: The proposed date for announcement of ACCC's findings.In May the Australian Competition and Consumer Commission denied authorisation to the NSW Government proposal for a hedge cartel between successful buyers, this left the self-hedged parties as the major bidders.
Process starts: The NSW Government said it “will require binding bids from potential acquirers by November 1 with the transactions to be executed by the end of the year”.
Simultaneous auction process: The ACCC said it was a ‘simultaneous auction”.
ACCC not telling much: “Origin Energy Limited ('Origin') has indicated that it is a participant in this process. It seeks ACCC clearance for the proposed acquisition of certain privatisation assets”
Submissions invited: The ACCC review was to:
- consider whether any potential combination of assets acquired by Origin would raise competition concerns.

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