Mitsubishi UFJ Financial Group (MTU +0.5%) looks for growth away from home, agreeing to buy as...

|About: Mitsubishi UFJ Financial... (MTU)|By:, SA News Editor

Mitsubishi UFJ Financial Group (MTU +0.5%) looks for growth away from home, agreeing to buy as much as a 75% stake in Thailand's Bank of Ayudhya for up to $5.61B. If approved by Thai regulators (foreign ownership of domestic banks is capped at 49%), it would be the largest acquisition by a Japanese bank in Southeast Asia. One selling shareholder will be GE, which will raise $2.41B by exiting its stake.