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Peter Warren Automotive Holdings Limited (ASX:PWR)

ALERT: Price-sensitive ASX Announcement for PWR
Current share price for PWR : $0.870 0.115 (15.23%)+
Announcement
Release
2 Jun 2026 5:04PM
Price at Release
$0.755
Full Release
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Summary
Peter Warren Automotive Holdings Limited (ASX: PWR) is undergoing a Phase 2 review by the Australian Competition and Consumer Commission (ACCC) regarding its proposed acquisition of 30 new car dealership sites from Wakeling Automotive Group. The ACCC is concerned that this acquisition could substantially lessen competition in the market for new cars and related services in the Macarthur region of Sydney, where the combined entity would operate a significant majority of the dealerships. The ACCC is soliciting feedback on this potential impact and has not yet reached a conclusion, extending the investigation to a Phase 2 review, which can take up to 90 business days.
Key Points
  • Peter Warren Automotive Holdings proposes acquiring 30 dealership sites from Wakeling Automotive Group.
  • The ACCC will conduct a Phase 2 review to assess potential competition impacts.
  • The acquisition could lessen competition in Sydney's Macarthur region.
  • Peter Warren and Wakeling Automotive are major players in the new car market in this area.
  • The ACCC is concerned about reduced competition in car sales and servicing.
  • The ACCC has asked for submissions regarding the acquisition by 16 June 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.