MUFG Discloses Passive Stake in Despegar.com (DESP)

TL;DR

**MUFG just revealed a passive stake in Despegar.com, signaling institutional confidence.**

AI Summary

Mitsubishi UFJ Financial Group Inc. (MUFG) has filed an SC 13G, indicating that as of December 29, 2023, they beneficially own shares in Despegar.com, Corp. (NYSE: DESP), an online travel company. This filing, made under Rule 13d-1(b), signifies that MUFG holds a passive stake, meaning they are not seeking to influence or control Despegar's management. For investors, this matters because it shows a significant financial institution has confidence in Despegar's long-term prospects, potentially signaling stability or future growth, without the immediate threat of an activist investor pushing for changes.

Why It Matters

This filing reveals a major financial institution's investment in Despegar.com, which can be seen as a vote of confidence, potentially attracting other institutional investors.

Risk Assessment

Risk Level: low — A passive 13G filing generally indicates a stable, non-activist investment, posing low risk to current company operations.

Analyst Insight

Smart investors should view this as a positive signal of institutional confidence in Despegar.com, but should still conduct their own due diligence on the company's fundamentals and future prospects, as a passive stake doesn't imply active management support or a takeover.

Key Players & Entities

• Mitsubishi UFJ Financial Group Inc. (company) — reporting person, a major financial institution
• Despegar.com, Corp. (company) — subject company, an online travel company
• FIRST SENTIER INVESTORS HOLDINGS PTY LTD (company) — group member associated with the reporting person
• MITSUBISHI UFJ TRUST & BANKING CORP (company) — group member associated with the reporting person
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Despegar.com's stock (DESP) may see increased investor interest due to the disclosed institutional ownership. (Despegar.com, Corp.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• d707295dsc13g.htm (SC 13G) — 132KB
• 0001193125-24-017322.txt ( ) — 134KB

From the Filing

SC 13G 1 d707295dsc13g.htm SC 13G SC 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Despegar.com Corp (Name of Issuer) Common Stock (Title of Class of Securities) G27358103 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: : Rule 13d-1(b) : Rule 13d-1(c) : Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. G27358103 1 NAME OF REPORTING PERSON Mitsubishi UFJ Financial Group, Inc. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Tokyo, Japan NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 3,329,328 6 SHARED VOTING POWER -0- 7 SOLE DISPOSITIVE POWER 3,329,328 8 SHARED DISPOSITIVE POWER -0- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,329,328 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.0% 12 TYPE OF REPORTING PERSON FI 2 CUSIP NO. G27358103 1 NAME OF REPORTING PERSON Mitsubishi UFJ Trust and Banking Corporation 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Tokyo, Japan NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 3,329,328 6 SHARED VOTING POWER -0- 7 SOLE DISPOSITIVE POWER 3,329,328 8 SHARED DISPOSITIVE POWER -0- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,329,328 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.0% 12 TYPE OF REPORTING PERSON FI 3 CUSIP NO. G27358103 1 NAME OF REPORTING PERSON First Sentier Investors Holdings Pty Ltd 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION New South Wales, Commonwealth of Australia NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 3,329,328 6 SHARED VOTING POWER -0- 7 SOLE DISPOSITIVE POWER 3,329,328 8 SHARED DISPOSITIVE POWER -0- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,329,328 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.0% 12 TYPE OF REPORTING PERSON FI 4 CUSIP NO. G27358103 ITEM 1 (a) Name of Issuer Despegar.com Corp (b) Address of Issuers Principal Executive Offices Juana Manso 999 Ciudad Autonoma de Buenos Aires, C1107CBR Argentina ITEM 2 (a) Names of Persons Filing Mitsubishi UFJ Financial Group, Inc. (MUFG) Mitsubishi UFJ Trust and Banking Corporation (MUTB) First Sentier Investors Holdings Pty Ltd (FSIHD) (b) Address of Principal Business Office or, if none, Residence MUFG : 7-1 Marunouchi 2-chome, Chiyoda-ku Tokyo 100-8330, Japan MUTB : 4-5 Marunouchi 1-chome, Chiyoda-ku Tokyo 100-8212, Japan FSIHD : Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia (c) Citizenship MUFG and MUTB: Japan FSIHD: Commonwealth of Australia (d) Title of Class of Securities Common Stock (e) CUSIP Number G27358103 5 CUSIP NO. G27358103 ITEM 3 If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: MUFG: (a)[ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b)[ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c)[ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d)[ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e)[ ] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f)[ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g)[ ] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h)[ ] A savings association as defined in Section 3(b) of the Federal Deposit Ins

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View this SC 13G filing on SEC EDGAR