Japan's MUFG mulls sweeter offer for India's HDB Financial, Bloomberg News reports [Reuters]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: Reuters
REUTERS/Thomas Peter/File Photo BENGALURU, April 22 (Reuters) - Japan's Mitsubishi UFJ Financial Group (MUFG) (8306.T) New Tab , opens new tab is considering sweetening its $1.7 billion offer for a minority stake in Indian lender HDFC Bank's (HDBK.NS) New Tab , opens new tab non-banking unit, Bloomberg News reported New Tab , opens new tab on Monday. Both sides are looking to reach an agreement for a 20% stake in HDB Financial Services in about a month, the report said, citing people familiar with the matter. HDFC Bank, which had a 94.84% stake in HDB Financial as of March 2023, and MUFG both did not respond to a Reuters request for comment. HDB Financial, incorporated in 2007, provides secured and unsecured loans and has more than 1,680 branches across India. It must be listed on or before September 2025 to adhere to a central bank regulation, amended in 2021, that requires large non-banking financial companies (NBFCs) to go public within three years. However, HDFC
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MUFG
Sec Filings
- 4/17/24 - Form 6-K
- 4/9/24 - Form 424B2
- 4/9/24 - Form FWP
- MUFG's page on the SEC website