Published March 2, 2021, 8:40 AM
Greenergy Holdings Inc., the listed firm of businessman Antonio Tiu, continues to beef up its fintech portfolio with the acquisition of 51 percent of ABS-CBN Corporation’s U-Pay Digital Technologies Inc. for P54 million.
The move is part of Greenergy’s bold ambition and pivot towards digital transformation to enable the company’s stakeholders and consumers to benefit from a financially inclusive ecosystem.
In a disclosure to the Philippine Stock Exchange, Greenergy said it has signed an agreement with ABS-CBN and iBayad Online Ventures, Inc. for the acquisition of 51 million fully paid common shares of U-Pay Digital.
U-Pay is an e-money issuer and remittance company duly licensed by the Bangko Sentral ng Pilipinas. The transaction is still subject to approvals of pertinent government regulatory agencies.