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Jan 7, 2018 @ 16:50

PCC okays Phoenix Petroleum’s Family Mart purchase

The Philippine Competition Commission has approved Phoenix Petroleum Philippines, Inc.’s acquisition of Family Mart Philippines.

In a news report, the country’s competition and anti-trust regulating body said it gave the go-signal of the merger and acquisition (M&A) deal after establishing that “the transaction does not result in substantial lessening of competition in the relevant market.”

Previously owned by an Ayala Group-Japanese firm joint venture, Family Mart, now has 67 convenience stores.

PCC said the Phoenix Petroleum-Family Mart M&A had been the 119th transaction it had acted upon so far in all of the 142 acquisitions applied for approval.



 

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