ACCC greenlights Bingo’s Dial-a-Dump buy

The competition watchdog has waved through Bingo’s acquisition of rival Dial-a-Dump on condition the ASX-listed waste management firm divests its eastern Sydney recycling centre.

The Australian Competition and Consumer Commission (ACCC) said it would not oppose the proposed $578 million acquisition but that the sale of the Banksmeadow processing facility was needed to maintain competition in Sydney’s eastern suburbs and CBD.

The ACCC has conditionally approved Bingo's acquisition of rival Dial-a-Dump.

The ACCC has conditionally approved Bingo’s acquisition of rival Dial-a-Dump.

Bingo last week flagged a poor first-half performance — since confirmed with a 25 per cent decline in profit — prompting its shares to halve in value.





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