Original article by Tom McIlroy
The Australian Financial Review – Page: 1 & 4 : 3-Jul-24

The Coalition proposes to introduce legislation that would force companies in certain sectors to divest assets if they are found to have abused their market power. The divestiture powers would specifically target grocery and hardware retailers with annual turnover of more than $5bn, which would include Coles, Woolworths and Bunnings. The proposed laws have been criticised by former Victorian Liberal premier Jeff Kennett and Business Council of Australia CEO Bran Black. The introduction of divestiture powers was also rejected by former Labor MP Craig Emerson in his recent review of the food and grocery code of conduct.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, COLES GROUP LIMITED – ASX COL, WOOLWORTHS GROUP LIMITED – ASX WOW, BUNNINGS GROUP LIMITED, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY