THE Philippine Competition Commission (PCC) said it approved the transaction between Metanoia South Pte. Ltd. (Metanoia) and Copper Smelting Investments, Ltd. (Copper Smelting).
鈥淭he commission found that the transaction is unlikely to harm competition, citing customers鈥 strong buying power, strict quality standards, and the limited production capacity of the parties involved,鈥 the PCC said in a statement on Tuesday.
The PCC said the transaction鈥檚 impact on the global supply of dor茅, a semi-pure alloy of gold and silver used in refining, is unlikely to disrupt market dynamics.
鈥淭he review included consultations with the Notifying Parties, stakeholders, trade associations, and relevant sector regulators,鈥 the PCC said.
鈥淲ith no significant change in market power resulting from the transaction, the PCC鈥檚 clearance enables the parties to move forward while maintaining a level playing field for industry participants,鈥 it added.
Metanoia is a Singapore-registered company, while Copper Smelting is registered in the British Virgin Islands. 鈥 Justine Irish D. Tabile
