Manila, March 31 -- The Philippine Competition Commission (PCC) has cleared the proposed acquisition by Synergy Grid & Development Phils., Inc. of shares in OneTaipan Holdings, Inc. and Pacifica21 Holdings, Inc. seeing the transaction unlikely to result in substantial lessening of competition in the Philippine market.
In a Commission decision dated March 26, the antitrust authority approved the transaction between Synergy and OneTaipan and Pacifica21.
This is based on the evaluation that the transaction will not result in any substantial change in the control, operations, and management of the National Grid Corporation of the Philippines (NGCP), and additionally, the transaction will not likely lead to any significant change in the struct...