THE Philippine Competition Commission (PCC) said Tuesday Robinsons Supermarket Corp. does not need to notify the antitrust watchdog of its full acquisition of the Ministop franchise in the country as the company already has majority control over the convenience store franchise.
“Based on PCC’s merger rules, the Commission acknowledges that Robinsons’ current majority stake in Ministop already affords them control, and Robinsons is no longer required to notify the proposed acquisition to the antitrust commission,” the antitrust body said in a statement.
Robinsons Supermarket, a wholly-owned subsidiary of Robinsons Retail Holdings Inc., announced Monday it will acquire the 40 percent share of Ministop Japan in Robinsons Convenience Stores Inc. (RCSI), effectively taking full ownership of the business.
RCSI is the exclusive franchisee of Ministop in the Philippines, with Robinsons Supermarket Corp. holding a 60 percent stake in the firm.
It will continue to operate the stores with the Ministop brand, within a prescribed transition period agreed upon with the Japanese counterpart.
The PCC said it received reports of Ministop Japan’s sale to Lotte, including its sale of its joint venture stake in the Philippines.