THE Philippine Competition Commission (PCC) has cleared listed holding firm Cosco Capital Inc.’s sale of all its shares in Liquigaz Philippines Corp. to Fernwood Holdings Inc.
In a decision dated January 17, the state-run antitrust agency said Fernwood’s acquisition of shares held by Cosco Capital unit Canaria Holdings Corp. would not “likely result in substantial lessening of competition within the market for bulk and cylinder supply of liquefied petroleum gas (LPG)” in the Luzon market.
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