The Philippine Competition Commission (PCC) has approved the acquisition by Permafrost Investments GMF2 Pte. Ltd. of a majority stake in CAMP Resources Property Holdings Inc. (CAMP Resources), citing no substantial impact on market competition.
The transaction, finalized on May 27, allows Singapore-based Permafrost to gain control of CAMP Resources, a domestic holding company with cold chain operations in the provinces of Rizal, Bulacan, Laguna and Pangasinan.
Following a notification on June 3, the PCC’s Mergers and Acquisitions Office reviewed the deal’s potential competitive impact in the national market for rooftop solar panel systems for commercial and industrial use.
The commission concluded that the deal is unlikely to substantially lessen competition, noting the market’s fragmented structure and the presence of numerous other providers.
The PCC confirmed that adequate competitive constraints remain, allowing the parties to move forward with their strategic initiatives in line with the Commission’s mandate to promote fair, efficient and competitive market outcomes.
