Chelsea submits Trans-Asia acquisition conditions to PCC

ABS-CBN News

Posted at Jan 16 2019 10:12 AM

MANILA – Chelsea Logistics Holdings Corp on Wednesday said the Philippine Competition Commission would not take further action on its proposed acquisition of shares in Trans-Asia Shipping Lines Inc.

The company told the stock exchange that it submitted conditions for the acquisition to the antitrust body.

Among the conditions are price monitoring on passenger and cargo rates, the submission of semi-annual reports on all trips and services, and maintenance of service quality, Chelsea said. 

-- with a report by Michelle Ong, ABS-CBN News