The Philippines’ Ayala Corp. has agreed to sell 6.5% of GCash – half of its stake in the Philippine e-wallet – to Japan’s Mitsubishi Corp in a transaction valued at 18.4 billion pesos (around US$321.5 million).

AC Ventures – under Ayala – currently holds a 13% stake in Mynt, which owns GCash operator G-Xchange Inc. and microlender Fuse Lending.

Mitsubishi will also acquire 18 million common and redeemable preferred shares of AC Ventures, as stated in a stock exchange filing on Apr. 2.

After the transaction, Ayala and Mitsubishi will each own 50% of AC Ventures.