MVP Group's Kayana will Acquire an Additional 57% Equity Interest in CIS Bayad Center

Today, the Board of Directors of PLDT Inc. (PLDT) approved the funding for PLDT’s pro rata interest in Kayana in connection with an increase in Kayana’s investment in Bayad, which will result in Kayana acquiring an additional 57% of Bayad’s outstanding capital stock, subject to the completion of due diligence review, procurement of internal corporate and regulatory approvals, and execution of definitive agreements (the Proposed Transaction).

The Proposed Transaction will increase the total interest of Kayana in Bayad to 67%. Currently, Bayad is 10%-owned by Kayana, 85%-owned by Corporate Information Solutions, Inc. (CIS), and 5%-owned Densan Systems Co. Ltd.

The Proposed Transaction will enable Kayana to leverage its expertise and resources to support Bayad’s growth trajectory while exploring and unlocking synergies in the companies led by Mr. Manuel V. Pangilinan such as PLDT, Manila Electric Company (Meralco), and Metro Pacific Investments Corporation (MPIC). Kayana is 45%-owned by PLDT, 27.5%-owned by Meralco, and 27.5%-owned by MPIC.

The terms and conditions of the transaction:

The terms and conditions of the transactionNumber of shares to be acquired or disposed: 319,800
Percentage to the total outstanding shares of the company subject of the transaction: 
Price per share: Approx. P9,009.57
The total purchase price is P2,881,260,000.00.

The total purchase price is based on business valuation using financial projections and future cash flows.

Bayad is a corporation duly organized under Philippine laws and with office address at G/F, Business Solutions Center Meralco Complex, Ortigas Avenue, Pasig City. It has developed an outsourced bills payment collection service in the Philippines, aggregating a multitude of billers into a robust system that is now being used by leading establishments and electronic money institutions across the country. Formerly known as Bayad Center, a fintech subsidiary of Meralco, it continues to innovate and offer a whole suite of financial products and services available to both consumers and businesses.

Kayana Solutions Inc., formerly referred to as DigiCo, is a data-powered digital experience company that harnesses the data assets of the businesses led by Manuel V. Pangilinan to deliver a superior and hyper-personalized customer experience backed by insights that can pave the way for a radical change in customer engagement across the MVP group. We aim to be a beacon of digital possibilities that continuously uplifts Filipino lives and propels the Philippines towards a more progressive, thriving future. Kayana Solutions Inc. is owned by the following companies led by Manuel V. Pangilinan: PLDT Inc., Manila Electric Company, and Metro Pacific Investments Corporation.