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.
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...