AYALA Corp. (AC) has agreed to sell half of its stake in the parent firm of GCash to Japan's Mitsubishi Corp. (MC), which will also explore additional investment opportunities in the Philippines under a refresh of a 50-year partnership.
AYALA Corp. has agreed to sell half of its stake in the parent firm of GCash to Japan's Mitsubishi Corp. , which will also explore additional investment opportunities in the Philippines under a refresh of a 50-year partnership.In a disclosure early on Friday, Ayala said that it was signing a binding term sheet with Mitsubishi — Japan's largest trading company — where the latter would invest a minimum of P18.4 billion for 50 percent of AC Ventures Holding Corp.
President and CEO Cezar Consing said, 'We believe Mitsubishi can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users.''It's all about serving better the many Filipinos that depend on GCash and Fuse, and for making a wider variety of financial and other products available to as many Filipinos as possible,' he added.
Sells Mynt Stake To Mitsubishi For P18.4B
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ayala Corp. signs $200 million credit facility with MetrobankAYALA Corp. has secured a senior long-term loan facility amounting to $200 million from Metropolitan Bank & Trust Co. (Metrobank), marking another milestone in a relationship that has spanned more than 3 decades.
Read more »
SMC, Ayala partner to build interchangeSAN Miguel Corp. (SMC), in collaboration with Ayala Greenfield Development Corp. (AGDC) — a joint venture of Ayala Land Inc. and the Greenfield Group — has commenced the development of the Ayala Greenfield Interchange in Laguna.
Read more »
Mitsubishi buying 6.5% stake in GCash for P18.4 billionConglomerate Ayala Corp. agreed to sell 50 percent of AC Ventures Holding Corp. (ACV) to Japan’s Mitsubishi Corp. for at least P18.4 billion. The deal
Read more »
Sustainable growth urged by Ayala chiefAYALA Corp. Chairman Jaime Augusto Zobel de Ayala called on the Philippine business community to embrace sustainable and inclusive growth by aligning business strategies with long-term environmental, social and technological goals.
Read more »
Metro Pacific Health Corp Acquires Controlling Stake in Diliman Doctors HospitalMetro Pacific Health Corp. (MPH), the Philippines' largest private hospital group, announced its acquisition of a controlling stake in Diliman Doctors Hospital Inc. (DDHI) based in Quezon City. This marks MPH’s third investment this year and its 26th hospital in the country.
Read more »
Ayala raising P17b from shares offeringDefining the News
Read more »