MUFG Said to Discuss Buying $1.7 Billion Stake in HDFC Unit [BNN Bloomberg (Canada)]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: BNN Bloomberg
Mitsubishi UFJ Financial Group Inc. is in talks to acquire a roughly $1.7 billion stake in HDFC Bank Ltd.'s consumer lending unit to tap booming demand for personal finance loans in India, people familiar with the matter said. Japan's biggest lender is nearing the purchase of a 20% stake in HDB Financial Services Ltd., which offers personal, gold and auto loans, said the people, who asked not to be named because the information is private. Negotiations are in the final stages, terms may change and it's possible that no agreement will be reached, they added. The move marks the latest in a string of acquisitions by Japan's top banks in India, a market which is rapidly becoming a pillar of their growth plans after building out a presence in Asia's other emerging economies. Rival Sumitomo Mitsui Financial Group Inc. bought a majority stake in Fullerton India Credit Co. for about $2 billion in 2021, purchasing the remainder of the company last month. A spokesperson for MUFG declin
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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