The Philippine Competition Commission (PCC), which reviews mergers and acquisitions, cleared the deal after finding no risk of reduced competition.
The buyer, Pacific Universal Investments Pte. Ltd., is acquiring shares in Jakarta-based PT Mitra from PT Satya Mulia Gema Gemilang, which holds a 51 percent controlling stake, the company’s regulatory filings in Indonesia showed.
PT Mitra has a regional footprint of 3,832 stores across seven ASEAN countries, with 247 outlets and 21 exclusive brands in the Philippines alone.
Its subsidiaries include MAP Active Philippines (Foot Locker, Planet Sports, New Balance, Converse, Sketchers) and Mapple Philippines Inc., which sells Apple products.
In a decision dated Aug. 12, 2025, regulators said the firms are not direct rivals and that other established retailers provide enough competition.
The approval was issued under the Philippine Competition Act, which requires PCC to vet major deals that could affect consumers.
—Edited by Miguel R. Camus
