Philippine-based Ayala has announced that it plans to sell 50% of its stake in Mynt , a fintech company which operates the e-wallet brand GCash, to Mitsubishi for a minimum of USD 318,89 million. As per the information provided by the Philippine-based group, Mitsubishi is set to acquire the stake by buying 50% of Ayala-owned AC Ventures, with the conglomerate owning a 13% stake in Mynt via the firm.

Currently, Mynt, which is a joint venture of Alibaba, affiliate Ant Group, Ayala, and Globe Telecom, operates two fintech companies, including G-Xchange and Fuse Lending, a tech-based micro-lender. Moreover, Mynt had no definite plans for an initial public offering, rather centring its efforts on scaling its business, including GCash, as detailed by officials. When commenting on the announcement, representatives from Ayala mentioned that the current move and Mitsubishi, could further support Mynt, enabling the company to provide more capabilities to its users.

Ayala’s stake in Mynt Back in August 2024, Mynt announced that it received a valuation increase of USD 5 billion after new investments from Ayala Corp and Mitsubishi UFJ Financial Group. At that time, Ayala raised its stake in Mynt to 13% by acquiring an additional 8% for USD 393 million. In addition, MUFG, which is among Japan’s largest banking groups, committed USD 393 million to purchase an 8% stake in Mynt.

The decision was based on the Philippines’ favourable conditions for growth in the digital financial services space, with high mobile phone and internet usage being among the defining factors. Mitsubishi’s acquisition of Link Group Before announcing its plans to acquire 50% of Ayala’s stake in Mynt, Mitsubishi UFJ worked on purchasing Link Group, an Australia-based pension administration company, in a USD 802,7 million deal. Through this, Mitsubishi UFJ Trust and Banking Corporation focused on scaling its fund administrator business, with the move following six previous acquisitions in the fund administration industry since 2013.

The company looked into buying all issued shares of Link Group and began the process of integrating the latter as its subsidiary. Furthermore, the acquisition was set to be conducted through a Scheme of Arrangement (SOA) under the Australian Corporations Act. Source: Link .