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Commission Decision No. 04-M-002/2019: Proposed Acquisition by Wipro Enterprises Singapore Pte. Limited of Shares in Splash Corporation
Commission Decision No. 04-M-002/2019:
Proposed Acquisition by Wipro Enterprises Singapore Pte. Limited of Shares in Splash Corporation
ABSTRACT:
Wipro Enterprises Private Limited, a corporate entity based in Bangalore, India, intends to acquire, Splash Corporation, a Philippine corporation, from Ang Hortaleza Corporation. After the acquisition, Wipro Enterprises Private Limited, through a wholly owned subsidiary, will own the domestic and international retail personal care business of Splash Corporation which will include the related inventories, plant, property and equipment, intangible assets such as patents and trademarks, as well as its foreign subsidiaries.
Splash Corporation is a Filipino company with business interests in personal care and food manufacturing, marketing, and distribution of products such as Maxi-Peel, SkinWhite lotion and Flawlessly U soap, among others, in the Philippines and in the international market.
On the other hand, Wipro Enterprises Private Limited comprises of two main businesses namely 1) Wipro Consumer Care and Lighting, which mainly provides personal care products such as Enchanteur lotion, Santoor soap and Chandrika soap, and lighting solutions and office furniture; as well as 2) Wipro Infrastructure Engineering, which provides hydraulic solutions for a wide range of diverse applications, precision engineered components for aerospace and defense, water solutions and wastewater treatment for industrial applications and additive manufacturing solutions.