Saturday 22 September
Powered by Ajaxy
Sep 26, 2017 @ 19:38

Global Business Power’s acquisition of Alsons Thermal Energy gets PCC’s nod


The Philippine Competition Commission (PCC) has approved Global Business Power Corp.’s acquisition of a 50 percent stake in Alsons Thermal Energy Corp.

GBPC, a leading power generation company operating in the Visayas region and Mindoro Island, will acquire the shares from the Alcantara family-led Alsons Consolidated Resources Inc.

PCC approved the transaction since it “does not result in substantial lessening of competition in the power generation market.”

“The merged firm does not have the ability or incentive to engage in foreclosure after the acquisition,” the PCC said.

“There is also sufficient competitive constraints from competitors in the said market,” it added.

PCC, the country’s anti-trust body, is mandated under the Philippine Competition Act to review mergers and acquisitions to ensure that these deals will not harm the interest of consumers.

Tags: , , , , ,

Related Stories
AP Renewables Inc. signed an agreement with the Philippine Geothermal Production Co, Inc. for the
Waking up at the crack of dawn, the grandson of industrialist J. Amado Araneta shared
The Philippine Charity Sweepstakes Office has agreed to extend the term of its lease agreement
Mass housing builder 8990 Holdings Inc, saw its housing revenues nearly double to P6 billion


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.