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News Philippine Competition Commission considers voluntary commitments as part of Holcim acquisition

Philippine Competition Commission considers voluntary commitments as part of Holcim acquisition

Written by Global Cement staff 19 November 2019
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Philippines: The Philippine Competition Commission (PCC) is considering voluntary commitments submitted by First Stronghold Cement and related parties in connection to its proposed acquisition of Holcim Philippines. First Stronghold Cement, an indirect subsidiary of San Miguel Corporation, has agreed to buy an 85.7% stake in Holcim Philippines, according to the Philippine Star newspaper. Companies undertaking acquisitions can make behavioural or structural voluntary commitments during the process to alleviate competition concerns with the PCC. Behavioural commitments include market constraints imposed by the PCC whilst structural commitments cover divesting assets.

Initial findings by the PCC on the proposed purchase found it could affect the market concentration of relevant products in parts of Luzon, and Northern and Southern Mindanao. This would normally prompt a stage two review of the proposed acquisition. However, if the PCC accepts the suggested voluntary commitments it would bypass this step.

Last modified on 20 November 2019
Published in Global Cement News
Tagged under
  • Philippines
  • Philippine Competition Commission
  • First Stronghold Cement
  • Acquisition
  • Holcim Philippines
  • LafargeHolcim
  • San MIguel
  • GCW432

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