PCC approves Ayala’s acquisition of 2.8% iPeople stake from Anscor

The Philippine Competition Commission (PCC) said over the weekend it approved Ayala Corp’s acquisition of an additional 2.8-percent equity stake in educational firm iPeople Inc.

Ayala acquired the stake from A. Soriano Corp. (Anscor) through a secondary share agreement, boosting its ownership in iPeople to 36.3 percent from 33.5 percent.

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Anscor has a remaining 6-percent stake in iPeople.

The PCC said the transaction, carried out through a special block sale on July 29, 2025, would not substantially lessen competition in the relevant markets.

Ayala is a leading Philippine conglomerate with interests in real estate, banking, telecommunications and energy.

iPeople, jointly owned by House of Investments Inc. and Ayala, manages educational institutions such as Mapua University.

Anscor is a diversified holding firm with local and international investments.

The PCC’s Mergers and Acquisitions Office (MAO) conducted a phase 1 review starting June 13, 2025, assessing vertical relationships across various sectors.

It concluded the deal would not harm competition, citing the parties’ small market shares, the presence of strong competitors, and the dominance of larger players.

The Philippine Competition Act mandates the PCC to review mergers and acquisitions to ensure they do not restrict competition or adversely affect consumer welfare.

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