MPIC-Franklin Baker deal enters PCC Phase 2 review

The Philippine Competition Commission (PCC) is conducting a deeper review of the Metro Pacific Investments Corp. (MPIC)'s planned acquisition of Franklin Baker Co.

- By LOUELLA DESIDERIO

In a notice, the PCC said it is undertaking a Phase 2 review of the proposed acquisition by MPIC subsidiary, Metro Pacific Agro Ventures Inc. (MPAV) of Franklin Baker, one of the country's oldest and largest manufacturers and exporters of coconut products.

"The review focuses on how the transaction may affect competition in the markets for coconut products and the supply of mature raw coconuts in Mindanao," the PCC said.