Citigroup will sell its Japanese trust bank to a unit of Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research, Stock Buzz) for around $276 million, as the struggling U.S. bank looks to sell assets worldwide.
The U.S. banking giant has previously said it has no plans to sell its Japanese brokerage and investment banking units, or other core businesses in Japan.
The company has all but closed its consumer lending business in Japan, shutting down more than 30 outlets and 540 unmanned branches.
1 comment:
I wonder what anti-trust laws say about these types of acquisitions in times like these?
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