CIS Bayad Center Inc. has transferred its shares held by Manila Electric Co. (Meralco) and its wholly owned subsidiary, Corporate Information Solutions Inc. (CIS), to Kayana Solutions Inc. in a P2.7-billion transaction completed on November 4. Kayana acquired all 504,948 common shares held by the two sellers, comprising 476,895 shares owned by CIS and 28,053 shares directly held by Meralco, according to a regulatory disclosure.
The transaction formalizes a deal previously disclosed to the Philippine Stock Exchange and Securities and Exchange Commission on April 17, April 20, and October 6.
Kayana is a data-driven digital solutions company offering artificial intelligence, payments, and data services. It is jointly owned by PLDT Inc., which holds a 45-percent stake, and Meralco and Metro Pacific Investments Corp., which each own 27.5 percent.
The acquisition places Bayad Center’s shares under a digital venture backed by three major Philippine business groups, potentially strengthening their position in the country’s payments and digital services market.
