PCC rules Robinsons–Premiumbikes deal poses no competition concerns
THE PHILIPPINE COMPETITION COMMISSION (PCC) has cleared Robinsons Supermarket Corp.’s proposed acquisition of Premiumbikes Corp., saying the transaction is unlikely to harm competition.
In a statement on Tuesday, the PCC said the deal would not result in a substantial lessening of competition in any of the relevant markets reviewed. It added that the merged entity would have limited ability or incentive to exercise market power, citing the parties’ relatively small market share and the presence of many competitors.
Robinsons Supermarket is engaged in the wholesale and retail of general merchandise through brands such as Robinsons Supermarket, Robinsons Easymart, Shopwise, The Marketplace and Uncle John’s. Its do-it-yourself retail segment is operated by Robinsons Handyman, Inc. under Handyman Do It Best and True Value.
Premiumbikes is involved in the wholesale and retail distribution of motorcycles, spare parts and accessories, operating 215 stores nationwide. It carries brands including Honda, Yamaha, Suzuki, Kawasaki, Kymco and TVS.
The PCC said its mergers and acquisitions office assessed markets in cities and municipalities where the parties operate, focusing on motorcycle accessories as well as oils and lubricants. The review drew on information from the companies and inputs from regulators, competitors and trade groups.
In July, Robinsons Retail Holdings, Inc., through Robinsons Supermarket signed an agreement to acquire 100% of Premiumbikes from Lance Y. Gokongwei for P146.4 million, or P7.27 per share.
Shares of Robinsons Retail rose 1.94% to P34.15 each on the Philippine Stock Exchange. — Alexandria Grace C. Magno
You May Also Like
‘One Battle After Another’ Becomes One Of This Decade’s Best-Reviewed Movies
Vitalik: The crypto industry needs to address three major issues to develop better decentralized stablecoins.
