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Regulator pushes back call on Allianz motor club move

The Australian Competition and Consumer Commission says it is seeking further information from SA motoring club RAA on its proposed deal with Allianz, and has delayed the release of its findings.

A provisional decision on the $642 million transaction – which would involve Allianz acquiring the RAA underwriting operations and entering into a 20-year distribution agreement – had been due for release on Thursday.

“The ACCC will announce a revised provisional decision date in due course,” the regulator says.

The release of findings was previously delayed from April 24 to May 22.

Allianz and RAA announced the deal last December, with the parties aiming for transaction completion in the middle of this year.