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The Philippine Competition Commission (PCC) has approved the merger between Robinsons Retail Holdings Inc. and Dairy Farm's Rustan Supercenters Inc.
The acquisition by Robinsons Retail Holdings Inc. of a 100% stake in Rustan Supercenters Inc. has been approved by the PCC, and the deal is now expected to complete in the next couple of months. The acquisition comes without any conditions as the PCC noted competition would not be substantially reduced in the market.
Last year, Dairy Farm acquired the remaining 34% share of Rustan’s Supermarket. In March, however, Robinson's announced that it agreed to partner Dairy Farm. The transaction involves exchange of Rustan’s for a 18.25% stake for Dairy Farm in Robinsons - becoming the third largest retailer in the country when combined. From the deal, Robinsons will acquire Rustan’s Supermarket, Shopwise and Wellcome, different supermarket and grocery banners which cater to different shopper segments.
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