Weekly ACCC Deal Digest (1 July 2026)
9 new, 24 approved, 0 rejected and 30 pending deals with ACCC up to 30 June
Merger Loop
July 01, 2026
Editor Note: As OpenAI continues its acquisition spree — including Ona, below — it was interesting to see how the ACCC framed the competitive landscape for AI foundation models when approving the OpenAI Tomoro purchase. The ACCC referred to “Anthropic, Google, Microsoft, Meta, xAI, MistralAI and others” which is a very Western frontier lab map. No DeepSeek, Alibaba/Qwen or Australian labs.
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❇️ New Deals
Amazon – Globalstar
Amazon.com, Inc. proposes to acquire Globalstar, Inc., its subsidiaries, assets and facilities. This transaction combines Amazon's retail, media, cloud computing, and future fixed satellite services with Globalstar's global narrowband/mobile satellite connectivity and direct-to-device satellite services for government, business, and consumers.
Stonepeak-led consortium - Estia Health
A consortium led by Stonepeak Partners LP and Axight Capital Limited proposes to acquire 100% of Estia Health Holdings Ltd's issued share capital. Estia operates 94 residential aged care homes nationally. Stonepeak has an interest in Queensland retirement village operator Aura Holdings.
Hapag-Lloyd - ZIM
Hapag-Lloyd Aktiengesellschaft proposes to acquire 100% of ZIM Integrated Shipping Services Ltd via a share merger. Both are international container liner shipping companies, with overlaps in services between Asia and Australia. Hapag-Lloyd is the fifth largest globally by TEU.
Midea - Residentia Group
Midea Group Co., Ltd proposes to acquire a majority of shares in Residentia Holdings Pty Ltd. This share acquisition sees an international technology group, a whitegoods and electronic household appliance manufacturer, acquiring an Australian distributor. Midea is a major OEM supplier to Residentia, which distributes brands including Elica and Omega.
WSP / GEOTECHNICAL TESTING AND INTERPRETATION
WSP Australia Pty Limited, a global engineering consulting firm, proposes to acquire substantially all assets and the business of Geotechnical Testing and Interpretation Pty Ltd as a going concern. This asset sale will expand WSP's geotechnical testing and interpretation services, particularly in offshore marine testing, complementing its existing onshore operations.
OpenAI - Ona
OpenAI Group PBC, known for its AI foundational models, proposes a share sale to acquire 100% of Ona (formerly Gitpod). Ona supplies a platform for enterprises to deploy AI-powered agents for software engineering tasks. This transaction is in the artificial intelligence sector.
Sika AG - Akkim
Sika AG, a Swiss speciality chemicals group, proposes to acquire 100% of the equity in Akkim, a Turkish chemical product manufacturer. Akkim specialises in sealants, adhesives, and waterproofing products, with its Akfix brand active in Australia. This share sale strengthens Sika's position in the building and manufacturing sectors.
INNIO Group – Enerflex
INNIO Holding GmbH (INNIO Group), a global manufacturer of gas power units, proposes to acquire 100% of the share capital in Enerflex Service Pty Limited (Enerflex). Enerflex provides aftermarket services, including maintenance, repair, and spare parts, for gas compression and energy infrastructure operators in Australia.
AkzoNobel - Axalta
Akzo Nobel N.V. proposes to merge with Axalta Coating Systems Ltd., with AkzoNobel as the surviving and renamed entity. Both are global paints and coatings manufacturers, overlapping in vehicle refinish and powder coatings in Australia. The transaction involves subsidiary mergers.
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✅ Recently Approved
Sony Music - Recognition Music
Sony Music (SMG-Three LLC and Sony Music Publishing) has received approval to acquire 100% of the shares of Recognition Music Group from funds advised by Blackstone, Inc. Both parties operate in the music publishing industry, where Sony Music acquires and commercialises rights, and Recognition Music holds rights.
Oakley Capital – XTEL
Oakley Eloa Luxco S.à r.l., indirectly controlled by Oakley Capital, proposes to acquire all shares in Bond Lux Co-Invest S.à r.l., trading as XTEL. XTEL is a global enterprise software provider offering a cloud native, AI-first revenue management platform for the consumer-packaged goods sector.
Editor note: deal both new and approved
Australian Venue Co – assets of Boatbuilders Yard and General Assembly, Melbourne
Australian Venue Co., via its subsidiary AVC Operations Pty Ltd, proposes an asset acquisition of two Melbourne hospitality venues: The Boatbuilders Yard and General Assembly, from Shed 4 (Vic) Pty Ltd and Dog At The Bridge Pty Ltd (Riverland Group). This asset sale expands its portfolio.
Editor note: deal both new and approved
GPS Energy – Ryowa's interest in Gladstone Power Station Joint Venture
GPS Energy Pty Limited, a Rio Tinto Aluminium subsidiary, is acquiring Ryowa II GPS Pty. Limited's 7.125% minority interest in the Gladstone Power Station Joint Venture. This asset sale increases GPS Energy's stake to 29.250% in the Queensland coal-fired power station, which supplies electricity to the Boyne Island Aluminium Smelter and the National Electricity Market.
Editor note: deal both new and approved
Airtree – HotDoc
Airtree Ventures Opportunity Fund V Partnership, LP is acquiring shares in Aegleon Holdco Pty Ltd, gaining an indirect interest in HotDoc. HotDoc provides patient engagement and virtual care for Australian general practitioners. Aegleon was previously acquired by funds managed by technology private equity firm Potentia.
Editor note: deal both new and approved
Bain Capital – Perpetual Wealth Management Group
Bain Capital, via BCPE Barton BidCo Pty Ltd, proposes to acquire Perpetual Limited's Australian wealth management business. This share sale involves Perpetual Limited selling 100% of shares in Perpetual PWM Services Pty Ltd, the head company of the Perpetual Wealth Management Group. The transaction is in the financial services and wealth management sector.
Editor note: deal both new and approved
Bupa – Barings Australian Private Credit Fund
Bupa HI Pty Ltd, part of the Bupa Group (healthcare and aged care), is acquiring units in the Barings Australian Private Credit Fund. Bupa is committing capital to the fund, managed by Barings Australia Pty Ltd, which invests in senior secured loans to Australian and New Zealand middle market companies.
Editor note: deal both new and approved
A restructure involves Marinus Link Holding Company Pty Ltd acquiring 100% of shares in Marinus Link Pty Ltd from the Commonwealth of Australia, the State of Tasmania, and the State of Victoria. This share exchange interposes the new holding company, which develops an undersea electricity interconnector between Tasmania and Victoria for renewable energy transmission.
Editor note: deal both new and approved
Australian Food & Fibre – Western Lands Lease Conversion
Bengerang Pty Ltd, part of the Australian Food & Fibre business, is acquiring freehold interests in agricultural land in Bourke, NSW, from the NSW Government. This transaction converts Bengerang's existing Western Lands Leasehold interests into freehold ownership, supporting its cotton and agricultural product operations.
Editor note: deal both new and approved
Apax Partners LLP – Sedex Information Exchange Limited
Apax Partners LLP, via Smith UK Bidco Limited, is acquiring 100% of the share capital of Sedex Information Exchange Limited. Sedex is a technology company providing supply chain management software applications and sustainability solutions. Existing Sedex shareholders and management will retain indirect economic interests through non-controlling minority stakes in Smith UK Bidco Limited.
Editor note: deal both new and approved
Brookfield – World Freight Company
Brookfield Corporation, a global investment firm, proposes to acquire 100% of the shares in GB WFC France SAS, the holding company of the World Freight Company group, from Glacis Acquisition S.à r.l. World Freight Company provides multi-brand air cargo and freight General Sales Agent and outsourced air cargo management services to airlines.
Editor note: deal both new and approved
ANZ Banking Group - Worldline Australia
Australia and New Zealand Banking Group Limited (ANZ) will acquire Worldline SA’s 51% interest in their joint venture, ANZ Worldline Payment Solutions, via a share sale. This will result in ANZ wholly owning the financial services and merchant acquiring business, which provides payment solutions to ANZ’s merchant customers.
Impression Dental Group - Coastal Dental Care
General Dental Holdings Pty Ltd (Impression Dental Group), a dental support organisation controlled by Genesis Capital, is acquiring 100% of the shares in Coastal Dental Care Australia Pty Ltd. The share sale in the dental services sector involves Coastal Dental Care's 15 dental practices, a lab, clinic, and supplies organisation. Genesis Capital also controls Pacific Smiles Group.
Warburg Pincus – JSB
Warburg Pincus, a private equity firm, through its special purpose vehicle Ursa 4 Kabushiki Kaisha, proposes to acquire J.S.B. Co., Ltd. This share acquisition targets a Japanese provider of student housing and related services, managing 100,000 units across 2,700 properties.
Editor note: deal both new and approved
Redwood Services Group – All IT Australia
Redwood Services Group Australia, part of Evergreen Services Group (a portfolio company of Alpine Investors), is acquiring 100% of the shares in All IT Australia from its existing shareholders. Both companies provide managed IT services to Australian small-to-medium businesses and enterprises.
Editor note: deal both new and approved
Bain Capital – FDH
Bain Capital, a private investment firm, has completed the 100% share acquisition of FDH, a global distributor of aerospace and defence components. FDH, previously controlled by Audax Management Company, specialises in hardware, electrical, and consumable products, supplying original equipment manufacturers and aftermarket customers.
Editor note: deal both new and approved
SLR Consulting Australia - Hydrobiology
SLR Consulting Australia Pty Ltd is acquiring 100% of Hydrobiology Pty Ltd and the remaining shares in Hydrobiology WA Pty Ltd and Hydrobiology Singapore Pte Ltd. This share acquisition combines SLR's broad environmental consulting services with Hydrobiology's aquatic environment expertise, which has 54 staff in Australia.
Editor note: deal both new and approved
Redwood Services Group – Newtrend I.T. Specialists
Redwood Services Group Australia acquired Newtrend I.T. Specialists via a 100% share acquisition of its holding company. Both provide managed IT services, software and hardware to Australian small-to-medium businesses. Redwood is part of Evergreen Services Group, a global managed IT service provider acquirer and Alpine Investors portfolio company.
Editor note: deal both new and approved
Dhilmar – Anglo American steelmaking coal business
Dhilmar Ltd. is acquiring Anglo American Australia Limited's steelmaking coal business in Queensland. The transaction involves a share and asset sale of interests in various joint ventures and mines, including Moranbah North and Grosvenor. Dhilmar, a UK-based gold miner with no prior metallurgical coal assets, is entering the Australian market.
Editor note: deal both new and approved
Precision Poultry - VOAG chicken farming operations
Roc Partners' investment vehicle, Precision Poultry Pty Ltd, received approval to acquire the broiler chicken farming operations of VOAG Pty Ltd and its related entities. This asset and land acquisition involves broiler chicken growing services businesses located in Victoria and New South Wales.
PT Asian Bulk Logistics – Engage Marine
Global Engage Marine Pty Ltd, a subsidiary of PT Asian Bulk Logistics, has acquired Engage Marine TopCo Pty Ltd. This transaction combines PT Asian Bulk Logistics' bulk cargo transhipment, rail freight, and shipping container supply operations with Engage Marine's terminal and harbour towage services across Australia, including emergency response solutions.
B.M.D. Holdings – Bajara Plant Hire and Stirling Contracting
B.M.D. Holdings Pty. Limited, part of the BMD Group, acquired a minority equity position in Bajara Plant Hire Pty Ltd and Stirling Contracting Pty Ltd via a Share Purchase Agreement. This transaction in the construction industry sees BMD Group, a diverse civil construction and development firm, acquire targets providing plant hire and earthworks services.
Editor note: deal both new and approved
Gunvor Group – ZEN Energy Retail Holdings
Global commodity trading house Gunvor Group Ltd is acquiring ZEN Energy Retail Holdings Pty Ltd from ZEN Energy Retail Pty Ltd via a share purchase agreement. The transaction encompasses ZEN Energy's retail electricity supply business, including customer contracts and a hedging portfolio of power purchase and battery storage agreements, within the Australian renewable energy sector.
Editor note: deal both new and approved
Aula Energy – Additional interest in the Boulder Creek Wind Farm
Aula Energy, backed by Macquarie Asset Management, is acquiring the remaining 50% interest in the Boulder Creek Wind Farm Project from CS Energy Limited. This share sale will give Aula Energy 100% ownership of the central Queensland renewable energy project, which is under construction and will supply wholesale electricity.
Editor note: deal both new and approved
❌ Recently Rejected
No rejections published since last edition.
🔁 Pending Deals
Notification — Phase 1 (initial assessment)
Autodesk - MaintainX: submitted 23 June 2026; expected 4 Aug 2026; MN-60022 ↗
Coles – supermarket site in Coffs Harbour (NSW): submitted 23 June 2026; expected 4 Aug 2026; MN-70022 ↗
Endeavour Group - retail liquor site in Avalon, NSW: submitted 22 June 2026; expected 3 Aug 2026; MN-50027 ↗
Regis Resources - Vault Minerals: submitted 22 June 2026; expected 3 Aug 2026; MN-65020 ↗
Genea - Care Fertility Greenslopes: submitted 19 June 2026; expected 31 Jul 2026; MN-01104 ↗
Discovery Holiday Parks – four Breeze Holiday Parks: submitted 18 June 2026; expected 30 Jul 2026; MN-01103 ↗
Bertelsmann Music Group - Concord: submitted 18 June 2026; expected 30 Jul 2026; MN-75023 ↗
Adbri - Eureka Concrete: submitted 17 June 2026; expected 29 Jul 2026; MN-50021 ↗
Complete Air Supply - All Air: submitted 16 June 2026; expected 28 Jul 2026; MN-15018 ↗
Transocean - Valaris: submitted 16 June 2026; expected 28 Jul 2026; MN-25019 ↗
Calvary - Hobart Private Hospital: submitted 16 June 2026; expected 28 Jul 2026; MN-40013 ↗
CSR - Complete Plaster: submitted 15 June 2026; expected 27 Jul 2026; MN-10018 ↗
EBOS - Paringa Pet Foods: submitted 11 June 2026; expected 23 Jul 2026; MN-30020 ↗
Service Stream – RiE: submitted 11 June 2026; expected 23 Jul 2026; MN-50022 ↗
Equans - CV Services Group: submitted 9 June 2026; expected 21 Jul 2026; MN-05025 ↗
Coles – supermarket site in Minto, NSW: submitted 9 June 2026; expected 21 Jul 2026; MN-25029 ↗
Uber - Blacklane: submitted 5 June 2026; expected 20 Jul 2026; MN-20018 ↗
Premier Fresh – Domenico Group: submitted 4 June 2026; expected 17 Jul 2026; MN-40020 ↗
Coles – supermarket site in Lidcombe (NSW): submitted 4 June 2026; expected 17 Jul 2026; MN-50019 ↗
ANZ, CBA, NAB and Westpac – shares in joint venture and interests in Joint Cash Pool: submitted 3 June 2026; expected 16 Jul 2026; MN-20014 ↗
CVS Group – Paws at Prospect Vet and Eyes at Prospect Vet: submitted 2 June 2026; expected 21 Jul 2026; MN-70020 ↗
Heidelberg Materials Australia – construction materials business of MAAS: submitted 28 May 2026; expected 3 Aug 2026; MN-50009 ↗
Black Rhino - Club Hotel Motel Roma: submitted 21 May 2026; expected 20 Jul 2026; MN-90008 ↗
Logic Technologies - Ace Communication Distributors: submitted 21 May 2026; expected 6 Jul 2026; MN-95021 ↗
Zoetis – Neogen Genomics Business: submitted 12 May 2026; expected 23 Jul 2026; MN-05013 ↗
Saipem - Subsea7: submitted 27 April 2026; expected 6 Jul 2026; MN-01072 ↗
Trescal – TR Calibration: submitted 14 April 2026; expected 6 Nov 2026; MN-90009 ↗
Notification — Phase 2 (detailed assessment)
Insurance Australia Group – RAC Insurance: submitted 3 March 2026; expected 23 Sep 2026; MN-65005 ↗
MicroStar Logistics - Konvoy: submitted 20 February 2026; expected 17 Aug 2026; MN-30003 ↗
Coles – supermarket and liquor site in Kalgoorlie, WA: submitted 27 November 2025; expected 2 Jul 2026; MN-01068 ↗
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