Pepsi-Cola Products Philippines Inc said Monday the country’s antitrust watchdog approved the plan of Lotte Chilsung to buy out its fellow shareholders.
The South Korean firm’s tender offer to buy more shares “will not likely result in a substantial lessening of competition,” Pepsi Philippines told the stock exchange, quoting the Philippine Competition Commission.
The PCC will “take no further action” on the transaction, said the maker of Pepsi and Mountain Dew.
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