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Philippines: Antitrust body okays BCDA, Meralco deal

 |  July 3, 2019

The Philippine Competition Commission greenlighted the proposed joint venture between state-owned corporation Bases Conversion and Development Authority (BCDA) and a consortium led by Manila Electric Company to manage the distribution of electricity in New Clark City.

Last April, Meralco and its consortium partners—Marubeni Corporation, Kansai Electric Power, and Chubu Electric Power—inked a deal with the BCDA to build and operate a “smart distribution electricity infrastructure” in New Clark City for an initial period of 25 years.

In a decision dated June 25 but made public on Wednesday, July 3, the country’s antitrust regulators said the transaction “will not likely result in substantial lessening of competition.”

Full Content: Phil Star

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