In the Matter of the Proposed Acquisition by Universal Robina Corporation of Assets of Central Azucarera Don Pedro, Inc. and Roxas Holdings, Inc.

Chapter 1

In the Matter of the Proposed Acquisition by Universal Robina Corporation of Assets of Central Azucarera Don Pedro, Inc. and Roxas Holdings, Inc.

COMMISSION DECISION NUMBER zero three dash M dash zero twenty-one slash two thousand nineteen

I. STATEMENT OF THE CASE

One. This case refers to the proposed acquisition by Universal Robina Corporation, "URC," of the assets of Central Azucarera Don Pedro, Inc., "CADPI," and Roxas Holdings, Inc., "RHI." RHI, together with URC and CADPI, shall be collectively referred to as the Parties.

Two. Upon review of the proposed acquisition, the Mergers and Acquisitions Office raised competition concerns on the proposed acquisition, finding that the proposed acquisition will likely substantially prevent, restrict, or lessen competition in the relevant market.