PCC sets provisional thresholds for mergers and acquisition review

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

PCC sets provisional thresholds for mergers and acquisition review

ABS-CBN News

Clipboard

MANILA — The Philippine Competition Commission on Friday said it would implement provisional compulsory notification thresholds for mergers and acquisitions after Bayanihan Law exemptions expire on Sept. 15.

From Sept. 16, transactions with a size of P2.5 billion and party size of P6.1 billion will be required to notify the PCC for review before they can be consummated, the antitrust body said in a statement.

Bayanihan 2 exempted from review transactions below P50 billion if entered within 2 years from the effectivity of the country's second coronavirus response law.

"Starting September 16, 2022, mergers and acquisitions that reach a Size of Party (SoP) of P6.1 billion and a Size of Transaction (SoT) of P2.5 billion will have to be notified to the PCC for mandatory merger review," the agency said.

ADVERTISEMENT

The thresholds will remain effective until the approval of the Commission en banc of the new thresholds for compulsory notification.

Parties seeking confirmation that they are not subject to the compulsory notification of under P50 billion must submit definitive agreements signed before Sept. 16 with their Letter of Non-Coverage to the PCC's Mergers and Acquisitions Office, it said.

The provisional thresholds were set based on the country's gross domestic product growth in the past 2 years, the antitrust body said. The PCC said it is adjusting thresholds for review to reflect inflation and the country's overall economic performance.

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

ad