Mitsubishi to acquire a 50% stake in AC Ventures from Ayala for $319m.

Mitsubishi, a global integrated business enterprise, agreed to acquire a 50% stake in AC Ventures, an early-stage technology venture fund, from Ayala, a Philippine conglomerate, for $319m. “We believe Mitsubishi can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94m registered users. It’s all about serving better the many Filipinos that depend on GCash and Fuse, and for making a wider variety of financial and other products available to as many Filipinos as possible,” Cezar Consing, Ayala President and CEO.