Tuesday 25 September
Powered by Ajaxy
Aug 20, 2018 @ 11:04

Gokongwei’s P18B buy-in of Rustan Supercenters gets PCC OK

 

Robinsons Retail Holdings Inc. has obtained approval from the Philippine Competition Commission to take over high-end grocery chain operator Rustan Supercenters Inc.

Bilyonaryo John Gokongwei’s RRHI is acquiring 100 percent of Rustan Supercenters which operates Marketplace by Rustan’s, Rustan’s Supermarket, Shopwise Hypermarket, Shopwise Express and Wellcome.

The shares will be acquired from Mulgrave Corp., a member of London-listed Dairy Farm International Holdings Ltd. Group of companies.

In green lighting the transaction, PCC said the acquisition does not result in a substantial lessening of competition in the relevant market because there is no ability and incentive for the parties to engage in foreclosure post-acquisition and there are sufficient competitive constraints remaining from other participants, post-transaction.

The transaction involves a share for share swap involving shares of Rustan Supercenters in exchange for common shares of RRHI.

Completion of the transaction is expected within the next few months, at which time a further announcement will be made.

Tags: , , , , , , ,

Related Stories
Pinoys had more money to spend all thanks to tax reform.
Robinsons Retail Holdings Inc. reported a 15 percent jump in its first half earnings to
Robinsons Retail Holdings, Inc. (RRH) has earmarked P3.5 billion for capital expenditures (capex) this year,
Robinsons Retail Holdings Inc. said net income expanded by 21.7 percent to P1.21 billion in


 

Trending News

Recommended on sister sites

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