The competition watchdog has approved a Hong Kong consortium's $13 billion takeover bid of APA Group, Australia's biggest gas pipeline company.
The Australian Competition and Consumer Commission granted its approval after the CK Group addressed competition concerns by pledging to sell-off all APA's pipeline assets in Western Australia.
"The undertaking addresses these concerns and creates an opportunity for a new operator to acquire a valuable set of assets, together with the personnel needed to operate and manage the assets," ACCC chair Rod Sims said in a statement on Wednesday.
