Manila, Philippines – The Philippine Competition Commission (PCC) has cleared the acquisition of PT Mitra Adiperkasa Tbk (MAPI) by Singapore-based Pacific Universal Investments Pte. Ltd., following a review completed on August 12, 2025.
The deal involves Pacific Universal acquiring the shares of PT Satya Mulia Gema Gemilang, which currently holds a controlling 51% stake in MAPI. In its decision, the PCC concluded that the transaction would not substantially lessen competition in the Philippines, noting that the two parties are not direct competitors, nor are they in a supplier-customer relationship.
The regulator also pointed out that the retail sector in which MAPI operates remains highly competitive, with numerous players providing adequate consumer choice.
PT Mitra Adiperkasa is a leading Indonesian lifestyle and fashion retail group with a strong presence in Southeast Asia, including the Philippines. Locally, the company operates through several subsidiaries, such as MAP Active Philippines Inc., which runs outlets for brands like Foot Locker, Planet Sports, New Balance, Converse, and Skechers; Planet Sports, Inc., which focuses on sports and lifestyle wear; and Mapple Philippines Inc., which distributes Apple products.
Altogether, PT Mitra manages around 247 stores in the Philippines and more than 3,800 outlets across ASEAN markets, making it one of the largest retail groups in the region.
Meanwhile, Pacific Universal Investments, incorporated in Singapore in 2022, is a relatively new holding firm focusing on non-financial businesses.
