5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

PCC clears Robinsons Retail-Rose Pharmacy deal

by
November 16, 2023
in Stock
0
PCC clears Robinsons Retail-Rose Pharmacy deal













THE PHILIPPINE Competition Commission (PCC) deemed that there is no basis to prohibit the move of Robinsons Retail Holdings, Inc. (RRHI) to acquire 100% of Rose Pharmacy following the completion of the competition watchdog’s review, according to the listed retailer.

In a stock exchange disclosure on Thursday, RRHI said that PCC had completed the motu propio review on the company’s acquisition of Rose Pharmacy on Oct. 5. The PCC’s mergers and acquisition office conducted the review, which began on Nov. 7 last year.

RRHI quoted PCC as saying that the Commission en banc “resolved to terminate the motu proprio review and take no further action on the completed acquisition, there being no sufficient basis to prohibit the same. The Commission issued the formal certification to this effect on Nov. 6.” 

In September 2020, RRHI, through its subsidiary South Star Drug, Inc., acquired 100% of Rose Pharmacy from Mulgrave Corp. B.V., which is a wholly owned subsidiary of Dairy Farm International Holdings, Ltd.

The acquisition was completed on Oct. 30, 2020.

Established in 1952, Rose Pharmacy is one of the leading drugstore chains in the country, with about P8 billion in net sales as of September this year, or higher by 15.1% compared with a year earlier. It has 394 stores in Visayas and Mindanao.

Aside from Rose Pharmacy, RRHI operates two other drugstore brands, namely: Southstar Drug and TGP (The Generics Pharmacy). Southstar Drug has 639 stores while TGP has over 2,000 franchised stores.

“Rose Pharmacy is a very strategic addition to RRHI’s drugstore portfolio, with its highly-regarded brand in Visayas and Mindanao, and complementary network to South Star Drug’s strong presence in Luzon and Metro Manila,” the listed company said.

“The acquisition further allows RRHI to leverage its scale and synergies to drive wider product assortment, better customer service, and offer greater value to its customers across the Philippines,” the company added.

RRHI posted a 41.4% decline in its nine-month attributable net income to P2.58 billion from P4.41 billion a year ago as a result of higher equitized losses from the company’s minority startup investments.   

Shares of RRHI at the local bourse closed unchanged at P38.50 apiece. — Revin Mikhael D. Ochave

CEDadiantiTyClea

RELATED ARTICLESMORE FROM AUTHOR



MORE STORIES


Previous Post

Entertainment News (11/17/23)

Next Post

Stuff to Do (11/17/23)

Next Post
Stuff to Do (11/17/23)

Stuff to Do (11/17/23)

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    One in six UK workers struggling to pay bills as second jobs hit record high

    One in six UK workers struggling to pay bills as second jobs hit record high

    July 12, 2025
    JuanHand earns Green Flag recognition from Filipino Fair Loans Advocacy Group (FILFLAG)

    JuanHand earns Green Flag recognition from Filipino Fair Loans Advocacy Group (FILFLAG)

    July 11, 2025
    United under one roof: How Puregold brought generations of OPM together in the Philippine Arena

    United under one roof: How Puregold brought generations of OPM together in the Philippine Arena

    July 11, 2025
    UK government considers rescue deal for Speciality Steel amid fears of collapse

    UK government considers rescue deal for Speciality Steel amid fears of collapse

    July 11, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.