CashNews.co
TOKYO — Japan’s Mitsubishi Corp. said Friday that it will indirectly take a stake in leading Philippine fintech company Global Fintech Innovations, better known as Mynt, as it looks to bolster digital finance operations in the country.
Mitsubishi plans to acquire 50% of AC Ventures Holding, a unit of Philippine conglomerate Ayala Group and a shareholder in Mynt, by the end of this fiscal year for an estimated 50 billion yen ($334 million). The deal would indirectly give Mitsubishi a 6.5% stake in Mynt.