Mitsubishi UFJ Financial Group is expanding its involvement in the consumer finance business
Tokyo Mitsubishi UFJ from Japan, and one of the worlds largest Banks follows on the recent purchase of Union Bank of California, with an increased stake in the Acom group, who have US $18 billions in personal loans.
In this volatile market banks with strength and capacity are taking advantage of the times.
MUFG raises stake in Japanese moneylender
Mitsubishi UFJ Financial Group is expanding its involvement in the consumer finance business by paying Y152.6bn ($1.4bn) to raise its stake in Acom, Japan’s biggest moneylender.Japan’s largest banking group said Monday it would launch a tender offer for shares in Acom at Y4,000 a share, a 30 per cent premium to the average closing price in the past month, to raise its share from 15.77 to 40.4 per cent.
