August 27, 2025 | 12:00am
MANILA, Philippines — The Philippine Competitors Fee (PCC) has authorized the proposed acquisition by Aramco Asia Singapore Pte. Ltd. of a 25-percent curiosity every in Unioil Petroleum Philippines Inc. and Unioil Power Pte. Ltd.
“After reviewing submissions from the events and third-party suggestions, the Fee decided that the transaction would unlikely end in a considerable lessening of competitors within the related markets,” the PCC mentioned in an announcement.
The PCC mentioned the events have restricted market shares and face substantial competitors from different established gamers.
As well as, it mentioned there’s a excessive likelihood that new gamers will enter the market.
Aramco is a completely owned affiliate of Saudi Arabian Oil Co. It serves because the Asia hub for gross sales, advertising, procurement, logistics and different help providers.
In the meantime, Unioil Petroleum is a home firm engaged within the sale of assorted petroleum merchandise reminiscent of diesel, gasoline, asphalt, coolants and lubricants.
Unioil Power is a overseas buying and selling firm engaged within the provide of gasoline and diesel to the Philippine market.
The PCC Mergers and Acquisitions Workplace began its Part 1 overview of the transaction on June 13.
In its overview, the PCC seemed on the related markets for the nationwide non-retail provide of automotive and industrial lubricants and coolants, the worldwide ex-refinery and non-retail provide of diesel and gasoline, in addition to the provision of ethanol as an enter for gasoline within the nationwide non-retail market.
The PCC is remitted underneath the Philippine Competitors Act to overview mergers and acquisitions, together with overseas transactions that meet notification thresholds to verify such offers don’t hurt competitors or customers.
At current, mergers and acquisitions with dimension of celebration of at the least P8.5 billion and dimension of transaction value at the least P3.5 billion should be notified and authorized by the PCC.
In 2024, the PCC reviewed 17 transactions value P784 billion.
