Commission Decision No. 28-M-024/2018:
Acquisition by Robinsons Retail Holdings Inc. of Shares in Rustan Supercenters Inc.

ABSTRACT:

The transaction involves the acquisition by Robinsons Retail Holdings, Inc. (RRHI) of 100% of the issued and outstanding capital shares in Rustan Supercenters, Inc. (RSCI). RRHI will acquire all the issued and outstanding capital shares of RSCI through a shares for shares swap involving shares of RSCI in exchange for 191,489,360 primary common shares of RRHI. The total consideration for the RSCI shares is approximately ?18 billion.

RRHI, the acquiring entity, is a multi-format retailer in the Philippines engaged in the business of trading goods, commodities and merchandise of any kind. RRHI’s core retail operations has six business segments—supermarkets, department stores, DIY stores, convenience stores, drug stores and specialty stores. RRHI operates Robinsons Supermarket, Robinsons Selections, Robinsons Easymart and Jaynith Supermarkets.

RSCI, the acquired entity, is engaged in grocery retailing. RSCI operates Marketplace by Rustan’s, Rustan’s Supermarkets, Shopwise, Shopwise Express and Wellcome.

Link: https://phcc.gov.ph/commission-decision-no-28-m-024-2018-acquisition-by-robinsons-retail-holdings-inc-of-shares-in-rustan-supercenters-inc/