PCC Chairman Arsenio M. Balisacan said in a statement on Tuesday that the agency had received reports “of Ministop Japan’s sale to Lotte, including its sale of its joint venture stake in the Philippines.”
The listed company plans to buy the stake of Japan-based Ministop Co., Ltd. in Robinsons Convenience Stores, Inc. for an undisclosed price. The transaction will bump its stake in RCSI, which is the exclusive franchisee of Ministop in the Philippines, to 100% from its current 60%. “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,” he added.
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