San Miguel Corporation abandons plan to acquire majority stake in Holcim Philippines

San Miguel Corporation's plan to acquire an 85.7% stake in Holcim Philippines from LafargeHolcim has lapsed after failing to obtain regulatory clearance from the Philippines Competition Authority within the required one-year window.

“San Miguel Corporation (SMC) has abandoned its plan to acquire a majority stake in cement maker Holcim Philippines after failing to gain regulatory clearance.”aggbusiness.com

• 3 sources
• aggbusiness.comSMC cancels agreement to buy a majority stake in Holcim Philippines - Aggregates BusinessGuy WoodfordMay 11, 2020
• forconstructionpros.comLafargeHolcim announces lapse of Philippines transaction | For Construction ProsMay 11, 2020
• manilastandard.netSMC drops plan to acquire Holcim PH for over $2bJenniffer B. AustriaMay 11, 2020

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