Chinese financial services major Ant Group’s purchase of a majority stake in the Southeast Asian payments company 2C2P in April this year valued the latter at over $590 million, show DealStreetAsia’s calculations based on regulatory filings.
Ant Group had announced its purchase of a majority stake in the Singapore- and Thailand-headquartered 2C2P, which enables enterprises to make and accept payments across borders, without disclosing the deal terms. The acquisition was completed on June 24, according to the Singapore-headquartered firm’s 2021 annual report.