BUSINESSMAN Manuel V. Pangilinan said his group is seeking to increase its stake in financial technology company Maya Bank, Inc.
“We’d prefer to, if we are able to. We’re talking to KKR about that. But that’s all I can say at this stage,” Mr. Pangilinan told reporters on the sidelines of a signing event in Pasig City on Monday.
In January, KKR tapped Goldman Sachs for the possible sale of its minority stake in Maya.
KKR owns greater than 20% of Maya. Once the potential sale is accomplished, Maya’s value could exceed $2 billion.
Maya is owned by Voyager Innovations, Inc. Pangilinan-led telecommunications company PLDT Inc. is Voyager’s foremost shareholder.
Other existing Maya investors include Tencent Holdings Ltd., International Finance Corp. (IFC), IFC Emerging Asia Fund, IFC Financial Institutions Growth Fund, SIG Enterprise Capital, EDBI, and First Pacific Co. Ltd.
First Pacific has a 25.6% interest in PLDT, the most important shareholder in Maya. Maya Bank disbursed P68 billion in loans and recorded P39 billion in deposits last 12 months.
Meanwhile, Mr. Pangilinan confirmed that his group will take part in KKR and GIC’s planned stake sale of Metro Pacific Health Corp. (MPH).
“I’m meeting them (global investment company KKR) next week. I’ve gotten some rumors about values, but I don’t know. We’re participating in the acquisition of the entire of 80%. We’ll probably pick 30%,” he added.
He said that KKR’s sale and his group’s plan to extend ownership could possibly be finalized by the center of the 12 months.
“If we agree on the worth and the method, because I don’t know who the bidders are. We’re picking up some noises, some names. Hopefully, middle of the 12 months,” he said.
In September last 12 months, KKR and GIC tapped Bank of America, Jefferies, and UBS to sell their 80% stake in MPH. The deal could put MPH’s value at $3.2 billion. Metro Pacific Investments Corp. holds the remaining 20% of MPH.
Hastings Holdings, Inc., a unit of PLDT Helpful Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Revin Mikhael D. Ochave
