Meralco, CIS sell 90% stake in Bayad Center for P2.7B

MANILA, Philippines — Manila Electric Co. (Meralco) is enabling its associate Kayana Solutions Inc. to fully take over payment service provider CIS Bayad Center through a P2.7-billion share sale. READ: DigiPlus taps Bayad Center as payment channel In a disclosure Tuesday, Meralco and its wholly owned subsidiary Corporate Information Solutions Inc. (CIS) are set to unload the remaining 90 percent stake or 504,948 shares in Bayad Center, priced at P5,347.08 each. The distribution giant holds a 5-percent stake in the payment firm while CIS has 85 percent. Kayana owns 10 percent. READ: PalawanPay and Bayad Sign Contract to Expand Payment […]... Keep on reading: Meralco, CIS sell 90% stake in Bayad Center for P2.7B

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