![]() ![]() Competition analysisThe ACCC concluded that Westpac's proposed acquisition was unlikely to substantially lessen competition in any relevant market. The ACCC considered the overlap of the merger parties with regards to specific segments (by asset class) of equipment finance where relevant. The ACCC considered the proposed acquisition in the context of a national market for the provision of equipment finance. The ACCC did not consider it necessary to form a concluded view as to the geographic dimension of the market for the provision of POS finance to customers of motor vehicle dealerships. Ii Provision of point-of-sale retail finance to motor vehicle customers The ACCC did not consider it necessary to form a concluded view as to the geographic dimension of the market for the provision of bailment finance and POS finance facilities to motor vehicle dealerships. Having regard to these dimensions of competition, the ACCC considered the proposed acquisition in the context of both a national market and state/regional markets for the provision of bailment finance and POS finance facilities to motor vehicle dealerships. While most financiers have a national presence and national systems in place, competition for attracting new motor vehicle dealerships occurs through building relationships with generally state-based sales representatives. The ACCC considered that there were both national and regional dimensions to competition for the provision of bailment finance and POS finance facilities to motor vehicle dealerships. The ACCC considered that other forms of commercial finance were not close substitutes to bailment finance. Provision of bailment finance and point-of-sale finance facilities to motor vehicle dealerships The ACCC did not consider it necessary to reach a definitive view on the relevant market definition for corporate and institutional banking services because competition concerns are unlikely to arise regardless of the definitions adopted. The merger parties also overlap in the supply of corporate and institutional banking services. the provision of equipment finance, having regard to particular industries and asset classes where necessary. the provision of POS retail finance to motor vehicle customers and the provision of bailment ('floor plan') finance and point-of-sale (POS) finance facilities to motor vehicle dealerships Market definitionThe ACCC considered the proposed acquisition in the context of the following markets: SummaryWestpac Banking Corporation (Westpac) proposed to acquire the assets of Lloyds International Pty Ltd which included Capital Finance Australia Limited (CFAL) and BOS International (Australia) Limited (BOSI). ![]()
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