Executive Summary: Commitments on the Proposed Acquisition by Universal Robina Corporation
of Assets of Central Azucarera Don Pedro, Inc. and Roxas Holdings, Inc.
The Philippine Competition Commission (PCC) invites stakeholders, sugar millers, sugar producers, farmers, and interested individuals to submit comments on the commitments proposed in the acquisition by Universal Robina Corporation (URC) of assets of Central Azucarera Don Pedro, Inc. (Don Pedro) and Roxas Holdings, Inc. (RHI).
The proposed commitments include the following provisions:
Section A. The Commitment to Increase Sugar Recovery Rates
Section B. The Commitment to Perform Capital Upgrades
Section C. The Commitment to Maintain Trucking Allowances
Section D. The Commitment to Provide Planter Assistance
Section E. The Commitment on Sharing Ratios
Section F. Commitment Regarding Feedback from Stakeholders
Section G. Variation, Substitution, or Release of Commitments
Section H. Entry Into Force
URC, is a subsidiary of JG Summit Holdings, Inc., and is engaged in a wide range of food-related business, including the production of packed goods and beverages, sugar, agro-industrial products, and bioethanol. URC, through its Sugar Division, operates six (6) sugar cane mills. Don Pedro, on the other hand, is a wholly-owned subsidiary of Roxas Holdings, Inc. Don Pedro operates an integrated sugar cane milling and refining plant in Nasugbu, Batangas.
URC will acquire all buildings, improvements, machineries and equipment, laboratory equipment, spare parts and transportation equipment, as well as the land on which the aforementioned assets are located, and such other assets which are necessary for the continuing operations of the refinery and milling plant located at Brgy. Lumbanga, Nasugbu, Batangas.
The public may send their comments via e-mail to firstname.lastname@example.org with subject title “Comments on URC-Don Pedro and RHI Transaction,” or via mail to Philippine Competition Commission located at 25th Floor Tower 1, Vertis North Corporate Center, North Avenue, Quezon City 1105. Please ensure that comments will be received by the Adjudication Division on or before 14 January 2019.