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Pepsi Philippines: Lotte buyout plan gets antitrust body's approval

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2020/ap/03/30/20190710-soda-supermarket-ap-19191685689343.jpg"/><figcaption>Pepsi cola bottles are shown in this file photo. Pepsi-Cola Products Philippines Inc said Monday the country&#x27;s antitrust watchdog approved the plan of, Lotte Chilsung, to buy out its fellow shareholders. AP/file</figcaption></figure></div>MANILA -- Pepsi-Cola Products Philippines Inc said Monday the country&#x27;s antitrust watchdog approved the plan of Lotte Chilsung to buy out its fellow shareholders.The South Korean firm&#x27;s tender offer to buy more shares &quot;will not likely result in a substantial lessening of competition,&quot; Pepsi Philippines told the stock exchange, quoting the Philippine Competition Commission.The PCC will &quot;take no further action&quot; on the transaction, said the maker of Pepsi and Mountain Dew.Lotte Chilsung had offered to buy 2,134,381,838 shares at P1.95 apiece, equivalent to nearly 58 percent of Pepsi Philippines&#x27; outstanding stock.

Pepsi-Cola Products Philippines Inc said Monday the country's antitrust watchdog approved the plan of Lotte Chilsung to buy out its fellow shareholders.

Pepsi-Cola Products Philippines Inc said Monday the country's antitrust watchdog approved the plan of Lotte Chilsung to buy out its fellow shareholders.