THE Philippine Competition Commission (PCC) has approved a property developer’s reacquisition of shares from a major conglomerate after finding the transaction not a threat to competition.
In a statement on Monday, the state-run antitrust watchdog said Property Company of Friends Inc. (Pro-Friends) bought back preferred shares from GT Capital Holdings Inc. in exchange for 702.44 hectares of land in the Lancaster New City development project in Cavite province.
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