NEW RULES ON EXPEDITED MERGER REVIEW (Philippines)

Author: Patricia O. Ko

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Publisher: Nagashima Ohno & Tsunematsu

Journal / Book: NO&T Asia Legal Review No.13 (July, 2019)

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*Please note that this newsletter is for informational purposes only and does not constitute legal advice. In addition, it is based on information as of its date of publication and does not reflect information after such date. In particular, please also note that preliminary reports in this newsletter may differ from current interpretations and practice depending on the nature of the report.

Background
Since the Philippine Competition Act (Republic Act No. 10667) came into effect on August 8, 2015, the Philippine Competition Commission (“PCC”) has received 184 merger notifications with a total transaction value of Php2.87 trillion. Of this number, it has approved 174 transactions, and blocked 1 transaction.　Drawing on this experience, the PCC has determined there are certain mergers that are less likely to substantially prevent, restrict or lessen competition in relevant markets and adopted Commission Resolution 008-2019 re: Approving and Adopting the PCC Rules on Expedited Merger Review (“Rules on Expedited Merger Review”) which took effect on July 2, 2019 and applies prospectively to merger reviews filed.

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