Manila Electric Company acquired 5% stake in CIS Bayad Center, Inc. from Densan System Holdings Co., Ltd. for approximately PHP 240 million.
December 08, 2024
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Manila Electric Company (PSE:MER) acquired 5% stake in CIS Bayad Center, Inc. from Densan System Holdings Co., Ltd. (TSE:4072) for approximately PHP 240 million on December 9, 2024.
Manila Electric Company (PSE:MER) completed the acquisition of 5% stake in CIS Bayad Center, Inc. from Densan System Holdings Co., Ltd. (TSE:4072) on December 9, 2024.
Densan System Holdings Co Ltd mainly manages the business of group companies and conducts incidental operations as a holding company. Through the wholly owned subsidiary, as a comprehensive information processing service company, the Company operates business in two business segments, including Information Service business segment and Payment-Collection Agency Service business segment. The Information Service business segment provides products and services, such as information processing services, system integration, software development, and system equipment. The Payment-Collection Agency Service business segment provides payment-collection agent services through credit card companies, convenience stores, banks, and electronic money businesses.