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KKR Taps Goldman Sachs for Maya Stake Sale: A Strategic Move in Philippine Fintech

Harrison BrooksFriday, Jan 17, 2025 2:32 am ET

5min read

Global investment firm KKR has appointed Goldman Sachs to facilitate the sale of its significant minority stake in Philippine fintech company Maya, according to two sources with knowledge of the matter. This strategic move comes as Maya continues to grow and expand its digital banking and financial services offerings, attracting the attention of potential buyers.

Maya, an all-in-one money app, offers a wide range of digital payment and banking services, including bill payments, remittances, savings, investments, and cryptocurrency. Its Maya Bank is the top digital bank in the Philippines, with a customer base of 5.4 million. KKR, which owns more than 20% of Maya, is exploring the potential sale of its stake, which could value the company at more than $2 billion, according to one of the sources.

Maya's strong financial performance in 2024 has been a significant factor in KKR's decision to sell its stake. The company closed the year with 39 billion Philippine pesos ($665.87 million) in deposit balances and 68 billion pesos in loan disbursements in a single year. Since 2022, the digital bank has disbursed a total of 92 billion pesos in loans, demonstrating its growth and expansion in the lending sector.

Goldman Sachs brings several strategic advantages to the sale process, including its global reach and expertise, market knowledge and insights, extensive network and relationships, transaction experience, and valuation and pricing expertise. These advantages will help KKR and Maya navigate the market dynamics, attract a broader range of potential buyers, and optimize the sale process.

The potential sale of KKR's stake in Maya comes at a time when the Philippine fintech industry is experiencing rapid growth and expansion. Maya's market position and growth prospects, combined with its strong financial performance, make it an attractive target for potential buyers. KKR's decision to hire Goldman Sachs for the sale process demonstrates the company's commitment to maximizing the value of its stake in Maya and ensuring a successful transaction.

In conclusion, KKR's appointment of Goldman Sachs for the sale of its minority stake in Maya is a strategic move that reflects the company's confidence in Maya's growth prospects and financial performance. With Goldman Sachs' expertise and experience, KKR and Maya are well-positioned to attract a broader range of potential buyers and achieve a successful sale. As the Philippine fintech industry continues to grow and expand, Maya's strong market position and growth prospects make it an attractive target for potential buyers, and KKR's decision to sell its stake is a testament to the company's commitment to maximizing shareholder value.

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