November 04, 2010

MUFG To Buy RBS's Project Financing Ops.

Mitsubishi UFJ Financial Group Inc., a leading Japanese mega bank group, plans to purchase the financing business project of the Royal Bank of Scotland for an estimated 4 billion pounds, or roughly 500 billion yen, according to Nikkei. The negotiation between MUFG and the British government, which controls 84% of RBS's voting rights is in the final stage of ironing out the details. They hope to sign a deal by year-end and complete the transaction in the first half of 2011.

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