Mitsubishi-Filinvest joint venture secures antitrust body's approval

ABS-CBN News

Posted at Dec 19 2019 01:54 PM

MANILA – The Philippine Competition Commission said Thursday it approved the proposed joint venture between Mitsubishi Corp and Filinvest Alabang for the development of upscale and mixed-use projects. 

A Dec. 10 decision cleared the joint venture, Spectrum Alabang Properties Inc, to develop projects in Alabang and Muntinlupa as the deal was deemed unlikely to result in lessening of competition, the PCC said in a statement. 

"The PCC found the transaction to not likely result in substantial lessening of competition in the Grade-A office space and retail markets in the southern business district, given the sufficient number of other market players in and outside of Alabang area that compete with the parties," the statement said. 

Filinvest Alabang is a subsidiary of Filinvest Development Corp.