Pepsi-Cola prompts antitrust body of Lotte acquisition offer
PEPSI-COLA Products Philippines, Inc. (PCPPI) has notified the Philippine Competition Commission (PCC) regarding the plan of majority shareholder Lotte Chilsung Beverage Co. Ltd. to increase its stake in the company.
The listed local manufacturer of the international soft drinks brand told the stock exchange yesterday it had filed a notification form to the PCC on Tuesday “as the acquired entity in the recent tender offer made by Lotte Chilsung Beverage Co., Ltd. to the shareholders of the company on 11 December 2019.”
The PCC requires that it must be notified of mergers and acquisitions reaching its threshold of P5.6 billion for the size of the party in a deal and P2.2 billion for the size of transaction.
PCPPI is currently doing a tender offer of its common shares as part of the Korean conglomerate’s plan to acquire a “significant economic interest” in the company. READ MORE
PIP TECHNICAL CHART
- Need to observe how this major shareholders plays their game
- We don’t intend to rush into buy but rather wait & see if they will de-list themselves or go along as Public Listed.
- Yet to be seen
- Be cautious
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