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Peter Warren Automotive Secures ACCC Nod for Proposed Acquisition

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Peter Warren Automotive (ASX:PWR) secured approval from the Australian Competition and Consumer Commission (ACCC) for its proposed acquisition of Wakeling Automotive's new car dealerships, subject to conditions that the company divests eight dealership sites, according to a Friday filing with the Australian bourse.

ACCC required the divestment of the company's dealerships in the Macarthur region in New South Wales to prevent a "substantial lessening" of competition, the filing said.

The acquisition is anticipated to be finalized in the coming weeks, per the filing.

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