PCC to further study ICTSI-MNHPI dealhome/Business/Corporate News/PCC to further study ICTSI-MNHPI dealTHE Philippine Competition Commission (PCC) on Thursday opened the second phase of its review of International Container Terminal Services, Inc.’s (ICTSI) acquisition of shares in Manila North Harbour, Inc. (MNHPI)In a statement, the state-run antitrust body said the move would allow its mergers and acquisitions office (MAO) to “conduct a more detailed inquiry into” the transaction. MNHPI’s parent company, San Miguel Holdings Corp., has a 43.33-percent stake; IZ Investment Holdings, Inc., 6.5 percent; and Petron Corp., 0.17 percent. “The initial market investigation conducted by MAO indicates that the transaction may affect the port industry, particularly the markets for the provision of port operation and transshipment services in the Port of Manila,” PCC said. Incorporated on Dec. 24, 1987, ICTSI is into the operation, management, development and acquisition of container terminals. It also owns and operates the Manila International Container Terminal, which services international cargo from the Port of Manila.

Source: Manila Times December 13, 2018 22:41 UTC