San Miguel proposes $2.15B acquisition of Holcim Philippines

San Miguel Corp., through subsidiary First Stronghold Cement Industries, proposed to acquire 85.73% of Holcim Philippines for $2.15 billion, but the Philippine Competition Commission raised concerns about reduced competition in the grey cement market.

“The buyout by SMC subsidiary, First Stronghold Cement Industries, Inc., of Holcim Philippines will result in a substantial lessening of competition in the market for grey cement.”bworldonline.com

• 1 source
• bworldonline.comSan Miguel buyout of Holcim worries competition watchdog - BusinessWorld OnlineCEDTyCleaJan 31, 2020

Summarized from public sources; check the original articles before acting on it.