The Philippine Competition Commission (PCC) has approved the sale of BDO Leasing and Finance Inc. (BLFI) to an investor group composed of real estate businessmen Mr. Vittorio P. Lim, Mr. Victor Y. Lim, Jr., and Mr. Luis N. Yu, Jr.
The transaction involves the proposed acquisition by the Lims and Yu of 88.84 percent of the total outstanding capital stock of BLFI from BDO Unibank, Inc. (BDO Unibank) and its subsidiary BDO Capital & Investment Corporation (BDO Capital) under a share purchase agreement.
In its Commission Decision released today, the Mergers and Acquisitions Office (MAO) of the PCC found that the transaction does not result in substantial lessening of competition in their relevant markets.