The Philippine Competition Commission (PCC) has approved two transactions related to land sale and health investment.
In a decision dated March 6 but released to the press only on Thursday, the Mergers and Acquisitions Office of the agency noted “both transactions do not result in substantial lessening of competition in their respective relevant markets.”
PCC approved Ayala Land, Inc.’s plan to purchase around 290 hectares of land from Central Azucarera de Tarlac (CAT) located in San Miguel, Tarlac City, Tarlac.
“The parties are not operating in the same geographic market,” the decision read.
Ayala Land focuses on the development of large-scale, integrated estates, residential lots, office buildings, and commercial and industrial lots.
CAT, meanwhile, is engages in the manufacturing of sugar and all its by-products. It has businesses focused on sugar milling and refinery, distillery and carbon dioxide plants in Tarlac.
PCC said it also approved the acquisition by Fullerton Healthcare Corporation Limited of 60 percent of the issued and outstanding capital shares of asalus, Avega, and Aventus.
“No overlaps exist between the parties in the domestic geographic market in health maintenance organization (HMO), third-party administration (TPA) products, and clinical and drug testing laboratories,” it said.
Fullerton, an enterprise healthcare services provider, has operations in Singapore, Malaysia, Indonesia, China, Australia and New Zealand.
Asalus and Avega are engaged in developing, maintaining, and promoting integrated medical and health maintenance services, while Aventus is in the business of establishing, owning, and managing medical clinics and medical or clinical laboratories, including drug testing laboratories, and providing medical and healthcare services and products.