MANILA, Philippines — Roxas Holdings Inc. on Friday said the Philippine Competition Commission’s move to block Universal Robina Corp.’s takeover of the listed sugar milling company’s assets in Nasugbu, Batangas over monopoly concerns was a “lost opportunity” to “advance” the sugar industry in Southern Luzon. Universal Robina has a sugar mill in Balayan, Batangas. Apart from Batangas, it has mills in Iloilo, Negros Oriental, Negros Occidental, and Cagayan which produce raw sugar, refined sugar and molasses used by other Universal Robina business segments and third parties. Meanwhile, Roxas Holdings owns 100 percent of the shares of CADPI, which operates an integrated sugar cane milling and refining plant in Batangas. Roxas Holdings is also in the business of trading raw and refined sugar, and molasses.

Source: Philippine Star February 15, 2019 10:41 UTC