HENRY Sy-led SM Investments Corp.’s (SMIC) plan to acquire pastry firm Goldilocks Bakeshop, Inc. has been approved by the Philippine Competition Commission (PCC).

In a statement, the antitrust regulator said the acquisition— to be made via SM Prime Holdings, Inc. (SMPH) subsidiary SM Retail, Inc.— could proceed after all parties submitted commitments to address potential competition issues.

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