Competition body OKs GGDC takeover

THE Philippine Competition Commission has approved Clark Global City Corp.’s (CGCC) plan to acquire the entire shares in GGDC Holdings, which is developing a 177-hectare land within the Clark Civil Aviation Complex in Clark Freeport Zone in Pampanga into a logistics hub.

In a decision released to the media late Thursday, the PCC said Clark Global City’s plan to acquire GGDC Holdings “does not result in a substantial lessening of competition in the relevant market since it does not appear that the merged firm has the ability or incentive to engage in foreclosure.”