Dairy Farm buys rest of Philippines chemist chain Rose Pharmacy

Dairy Farm International Holdings confirmed the completion of its acquisition of the remaining 51% interest in Philippines chemist chain Rose Pharmacy from BRG Realty Corporation - a company owned by the Lim Family, who founded Rose Pharmacy - on Monday.

The Bermuda-domiciled, Hong Kong-focussed, London-listed retail conglomerate said that as a result of the transaction, it now held a 100% interest in Rose Pharmacy.

Dairy Farm initially announced its agreement to acquire the rest of Rose Pharmacy on 2 October.

At the time, it said completion remained dependent on the approval of the Philippine Competition Commission, which was expected to take up to six months.