UNIVERSAL ROBINA Corp. (URC) said the Philippine Competition Commission (PCC) has cleared its proposed sale of a 21% stake in instant noodle maker Nissin Universal Robina Corp. (NURC) to Nissin Foods Asia Co. Ltd. (NFA).
“The company duly received the PCC certification dated Aug. 25 clearing the transaction,” URC said in a disclosure on Thursday.
URC said the sale covers 39.69 million NURC shares.
Upon completion of the transaction, NFA’s ownership in NURC will increase to 70% from 49%, while URC’s stake will decline to 30% from 51%, the company said.
URC said the transaction is scheduled for Jan. 7, 2027 through a direct sale of shares.
The company said the purchase price has yet to be finalized and is expected to be determined by December 2026.
URC said the consideration will be determined using two valuation methods: discounted cash flow with a terminal value based on the Gordon Growth method, and enterprise value-to-earnings before interest, taxes, depreciation, and amortization (EBITDA) multiples.
URC said NURC, established in 1994, is a joint venture between URC and NFA that manufactures and sells instant noodles in the Philippines.
The company said that after the transaction, NFA will consolidate NURC in its financial statements, while URC will account for its remaining 30% interest using the equity method under applicable local financial reporting standards.
“This change in financial presentation does not affect the business operation and is expected to continue without disruption during and after the transition,” URC said.
At the local bourse on Thursday, URC shares fell 1.64% to close at P60 apiece. — Alexandria Grace C. Magno