MANILA, Philippines — In a landmark transaction reshaping the Philippine payments landscape, Manila Electric Company (Meralco) and its subsidiary Corporate Information Solutions Inc. (CIS) have agreed to sell their combined 90% stake in Bayad Center for a total of P2.7 billion.
The deal, disclosed on Tuesday, April 21, 2026, enables Kayana Solutions Inc.—an associate company of Meralco—to assume full ownership of the prominent payment service provider.
Under the terms of the sale, Meralco and CIS will unload 504,948 shares in Bayad Center at a price of P5,347.08 per share. Prior to the transaction, Meralco held a 5% interest in the payment firm, while CIS controlled 85%. Kayana Solutions already owned the remaining 10%.
Bayad Center, a leading payment fulfillment and collection platform in the Philippines, is a joint venture originally established by telecommunications giant PLDT, Meralco, and Metron Pacific Investments Corp.
In its official disclosure, Meralco stated, "Kayana’s acquisition of Bayad, a leading payment fulfillment and collection platform, will accelerate its roadmap to support its customers and stakeholders better."
The strategic divestment allows Meralco to streamline its portfolio while positioning Kayana Solutions to fully integrate and expand Bayad Center's digital payment services across the nation.