The Philippine Competition Commission (PCC) has decided to block food giant Universal Robina’s (URC) acquisition of Roxas’s sugar mill, Central Azucarera Don Pedro Inc., in Batangas.
URC’s buyout of its only competitor in the sugarcane milling services market leads to a monopoly in Southern Luzon, the PCC said Thursday, citing its decision on Tuesday, February 12.
The commission earlier raised concerns about URC’s proposed acquisition of the milling and refining assets of Roxas Holdings’ wholly-owned subsidiary Central Azucarera Don Pedro in Batangas.
Full Content: GMA Network
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