ACCC to assess sale of business to CSR

Flat Glass Industries Ltd says the competition watchdog will make inquiries into the proposed sale of the company to building products maker CSR Ltd.

Flat Glass Industries earlier this month agreed to sell its Newcastle business, Burnbridge Glass, to CSR, subject to approval by the Australian Competition and Consumer Commission (ACCC).

FGI says the ACCC has advised CSR it will conduct market inquiries in relation to the sale of the business, which are due to be completed by June 30.

At 1250 AEST, shares in CSR were up one cent at $2.91. FGI shares were untraded at 12 cents each.

600450 ACCC to assess sale of business to CSR glassonweb.com
Date: 30 May 2011
Source: www.news.ninemsn.com.au

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