The Philippine Competition Commission issued, on 11 February 2020, PCC Advisory No. 02-2020 adjusting the compulsory threshold notification for mergers and acquisitions transactions. The Commission has raised the thresholds from PHP5.6 Billion to PHP6 Billion for the Size of Person (SoP) and from PHP2.2 Billion to PHP2.4 Billion for the Size of Transaction (SoT). The adjusted SoT shall also apply to joint venture transactions.
Under the law, PCC is authorized to review and recommend adjustments on threshold notifications based on the official estimates of Philippine Statistics Authority’s nominal gross domestic products of the previous year rounded to the nearest hundred millions.
The adjustment will take effect on 1 March 2020 and will cover transactions with definitive agreements executed on or after 1 March 2020.
For more information, please click link for a copy of the advisory.