Tag: Lawson

Ayala-Mitsubishi’s P18.4 billion GCash deal closed

Ayala-Mitsubishi’s P18.4 billion GCash deal closed

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After being cleared by the Philippine Competition Commission (PCC), the P18.4 billion deal between Ayala Corporation and Mitsubishi Corporation regarding a 6.5% stake in GCash owner Globe Fintech Innovations Inc. (Mynt) has finally closed, according to a Manila Bulletin business news report.

For the newcomers reading this, the Ayala-Mitsubishi deal was sealed a few months ago and it was perceived that it will likely boost the IPO of GCash.

To put things in perspective, posted below is an excerpt from the business news report of the Manila Bulletin. Some parts in boldface…

The Zobel family’s Ayala Corp. (AC) has closed the sale of a 6.5-percent stake in GCash owner Globe Fintech Innovations Inc. (Mynt) to long-time partner Mitsubishi Corp. for ₱18.4 billion after the deal was cleared by the anti-trust watchdog Philippine Competition Commission (PCC).

In a disclosure to the Philippine Stock Exchange (PSE), Ayala said it has sold half of wholly owned AC Ventures Holding Corp. (ACV) to Mitsubishi. ACV owns about 13 percent of Mynt. Mynt has two financial technology (fintech) companies: G-Xchange Inc., the mobile wallet operator of GCash, and Fuse Lending, a tech-based microlender.

The PCC has cleared the deal after finding that Mitsubishi’s investment in ACV would not significantly reduce competition in the market for QR code-based digital payments to merchants.

The PCC noted in its decision the relatively small market share held by GCash in the provision of QR-based person-to-merchant payments. Additionally, the PCC cited the strong governmental push for interoperability in QR-based payments in the country as a factor in its approval.

Person-to-merchant payments, facilitated by QR codes, enable businesses to accept digital payments from consumers for goods and services.

While Mitsubishi indirectly owns Lawson Philippines, a convenience store chain that accepts QR code-based payments from consumers, the PCC said that its limited presence means the transaction would not result in a substantial lessening of competition.

“Mitsubishi, Japan’s largest trading company, can help Mynt grow overseas and within its own significant Japan-based ecosystem, and in areas like cloud-based payments and new credit algorithms,” Ayala said.

Ayala and Mitsubishi entered into a partnership and cooperation agreement in 1974 that has since featured industrial estates, renewable energy (RE) projects, a water utility, and auto dealerships.

Ayala President and Chief Executive Officer (CEO) Cezar P. Consing said earlier that, “We believe Mitsubishi can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users.”

ACV will serve as Ayala and Mitsubishi’s joint venture (JV) entity that will explore consumer-related and digital opportunities in the Philippines.

“These initiatives are aligned with AC’s strategic priority to support the growth of clear business winners within its portfolio,” Ayala said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there will be a series of technological and technical improvements happening with GCash as a result of the closed deal between Ayala and Mitsubishi? How many people in your household are using GCash nowadays?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

What to watch on YouTube right now – Part 35

What to watch on YouTube right now – Part 35

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Welcome back, my readers, YouTube viewers and all others who followed this series of articles focused on YouTube videos worth watching. Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you check out the following topics and the related videos I found.

The disappointing 9th console generation  – If you are a long-time gamer who owns a PlayStation 5 (PS5) and/or an Xbox Series X or Xbox Series S console, you might have noticed how disappointing the 9th console generation (started in late 2020) has been when compared to the previous four generations.

Apart from the fact that the COVID-19 pandemic deeply altered the games industry on the sides of gamers and game developers, the 9th console generation has seen lots of unfulfilled promises from the console makers, Xbox Game Pass (XGP) changing for the worse, great gaming experiences not being realized, consumers getting screwed, the lack of focus towards the fans, woke garbage involved in game productions and a lot more. To understand what is going on in the 9th console generation, I urge you to watch the selected videos below.

Illegal immigration in America is the new slave trade – More than ten million people illegally entered the United States through the US-Mexico border since 2021, resulting in rising crime, increased taxpayers’ money spending on illegal aliens, and more hardship for America’s own citizens. That’s not all. There are cartels taking advantage of the open border in the south that kept thousands of people – including children – flowing into America and those illegal aliens themselves are forced to repay the debts to the cartels. These should remind you how bad immigration became in America under Joe Biden and Kamala Harris (border czar who loves criminals and terrorists). This PrageU video is a must-watch.

Retro gaming reported by KTLA 5  – It is not every day you get see retro gaming reported on mainstream news outlets. In America, KTLA 5 made a video news report about the resurgence of retro gaming and it’s not limited to gamers buying collected editions of decades-old games for their modern game consoles. In fact, the video game store in KTLA 5’s report is selling old games in physical copies as well as old game consoles at affordable rates. Watch the video below.

The history and American origin of the Lawson convenience store enterprise – Here in the Philippines, the convenience store chain Lawson has been gradually growing and becoming more competitive with the likes of 7-Eleven and Uncle John’s. Not only that, Lawson is gaining a following of customers who keep on returning because of the variety of food and beverage items offered plus convenient ways of doing financial transactions. While it is common knowledge that Lawson is from Japan and is a Japanese enterprise, not too many people are aware of its American origin. To learn about the history of Lawson, watch the video below.

Israel’s intensified campaign against Hezbollah – After the recent attacks against several members of the Iranian-sponsored terrorist group Hezbollah through their pagers, Israel’s military campaign against the terrorists intensified. This happened even as Hezbollah kept on firing at Israel (in response to the pagers attacks) and even hitting Nazareth which itself has many Arabs and Muslims in its local population. Don’t let the pro-terrorist, pro-Islamist mainstream news media fool you with their persistent lying. Watch the videos from credible news sources below to realize the truth. Lastly, keep praying to the Lord to support Israel and bring down the forces of evil.

6. Kamala Harris’ dishonesty and pathetic acting about border security explained

In recent times, the Communist Vice President of the United States Kamala Harris visited the US-Mexico border to check on the situation there as illegal immigration added so much to crime. The problem here is that Kamala was simply acting to be responsible and working, and it is not a secret that the Democrats hired Communist Hollywood people to stage it behind the scenes. Sky News Australia’s video below is a must-see and remember that Democrats always love illegal aliens, criminals, abortion and terrorists. Kamala herself publicly declared her support for illegal aliens and defended them.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Antitrust notification for Robinsons’ full takeover of Ministop not needed according to Philippine Competition Commission (PCC)

Antitrust notification for Robinsons’ full takeover of Ministop not needed according to Philippine Competition Commission (PCC)

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If you have been living here in the Philippines, have you visited any branch of the Ministop chain of convenience stores lately? Did you notice that the term acquisition was more prominent recently in business news as of late mainly due to the Microsoft-Activision-Blizzard deal?

The point here is that another acquisition happening in the Philippines – Robinsons is set for a full takeover of Ministop (which itself is already majority owned by the said corporation) and an antitrust notification is not needed according to the Philippine Competition Commission (PCC). This was reported lately by GMA Network news.

To put things in perspective, posted below is an excerpt from the GMA news report. Some parts in boldface…

The Philippine Competition Commission (PCC) said Tuesday Robinsons Supermarket Corp. does not need to notify the antitrust watchdog of its full takeover of the Ministop franchise in the country as the company already has majority control over the convenience store franchise.

“Based on PCC’s merger rules, the Commission acknowledges that Robinsons’ current majority stake in Ministop already affords them control, and Robinsons is no longer required to notify the proposed acquisition to the antitrust commission,” the antitrust body said in a statement.

On Monday, Robinsons Supermarket —a wholly-owned subsidiary of Robinsons Retail Holdings Inc. (RRHI)— announced it will acquire the 40% share of Ministop Japan in Robinsons Convenience Stores Inc. (RCSI), effectively taking full ownership of the business.

RCSI is the exclusive franchisee of Ministop in the Philippines, with Robinsons Supermarket Corp. holding a 60% stake in the firm. It will continue to operate the stores with the Ministop brand, within a prescribed transition period agreed upon with the Japanese counterpart.

RRHI said the stores will continue to operate as Ministop until they are repurposed and appropriately rebranded, in consideration of its ready-to-eat offerings such as Uncle John’s Fried Chicken and Kariman.

The PCC said it received reports of Ministop Japan’s sale to Lotte, including its sale of its joint venture stake in the Philippines.

Nikkei Asia reported that the Japanese convenience store operator will sell its South Korean and Philippine businesses, after unloading a Chinese subsidiary in Qingdao.

The PCC, however, noted that it will look into Robinsons’ portfolio in the consumer retail sector which includes supermarkets, department stores, and community malls, among others.

“Merger reviews are focused on the effects and changes of market behavior in the hands of new owners or stakeholders,” it said.

“This transaction may result in a change in ownership of a significant portion of equity but it is not likely to have an effect on the economic behavior of the target firm,” it added.

Let me end this piece by asking you readers: What do you think about this business development? If you are a regular customer of Ministop, what do you think will happen once the full takeover by Robinsons happens? Do you think that the quality of the customer service and store facilities will improve? When it comes to convenience store competition here in the Philippines, how do you rate Ministop with the likes of 7-Eleven, FamilyMart and Lawson? Are you personally attached to Ministop’s branch?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/