Japan's BTMU To Pay $5.6B For Majority Stake In Thai Lender

Law360, New York (July 2, 2013, 5:31 PM EDT) -- Japan's Bank of Tokyo-Mitsubishi UFJ Ltd. will dole out $5.61 billion for a dominant stake in Thailand's Bank of Ayudhya Public Co. Ltd., the company announced Tuesday, in an effort to increase its business presence in Thailand.

The buy will give BTMU a 75 percent stake in the Thai bank, which conducts business under the name Krungsri, and includes an acquisition of the 25 percent of shares currently held by GE Capital International Holdings Corporation.

“As a part of a strategy designed to further develop BTMU’s business...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.