25 January 2022
Re: Robinsons – Ministop Transaction
For Immediate Release
 

The Philippine Competition Commission (PCC) received reports of Ministop Japan’s sale to Lotte, including its sale of its joint venture stake in the Philippines.

As local partner, Robinsons Supermarket Corp. currently has a 60% stake in Robinsons Convenience Stores Inc., the franchisee of Ministop in the Philippines. Yesterday, the company announced that it will acquire the remaining 40% share of Ministop Japan in February, effectively taking full ownership of the business.

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. PCC takes note, however, of the scope of Robinsons‘ portfolio in the consumer retail sector which includes supermarkets, department stores, and community malls, among others.

Merger reviews are focused on the effects and changes of market behavior in the hands of new owners or stakeholders. This transaction may result in a change in ownership of a significant portion of equity but it is not likely to have an effect on the economic behavior of the target firm.

The antitrust watchdog will continue to monitor on acquisitions of notable brands and sizable firms to prevent the substantial lessening of competition in the market.

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