Philippines: preparing for a wave of M&A

Author: | Published: 8 Aug 2019

Market players will have to keep abreast of changes as the Philippines ushers in a flurry of corporate legal updates. Francisco Lim, senior partner of ACCRA Law, reviews the developments.

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In the past year, M&A in the Philippines has been robust. Among the notable and substantial M&A transactions approved by the Philippine Competition Commission (PCC) – the main antitrust authority – we have seen: the acquisition by Chelsea Logistics Holdings Corporation of shares in Trans-Asia Shipping Lines; Wipro Enterprises Singapore's acquisition of shares in Splash Corporation; the acquisition by Aboitiz Power Corporation of shares in AA Thermal; AC Energy's acquisition of shares in PHINMA Energy Corporation; the purchase by GlaxoSmithKline Consumer Healthcare Holdings of Pfizer's consumer healthcare business; and the iPeople and AC Education merger.

The strong growth of the Philippine economy is one of the key factors behind the increase in M&A. The nation's...