San Francisco based Union Bank, a unit of Japan's Mitsubishi UFJ Financial Group (MTU), has...

|By:, SA News Editor

San Francisco based Union Bank, a unit of Japan's Mitsubishi UFJ Financial Group (MTU), has agreed to acquire a portfolio of $3.7B in U.S. real-estate loans from Deutsche Bank (DB) subsidiary PB Capital. The acquisition is part of MUFG's strategy to expand overseas to offset anemic demand in Japan even as European banks sell assets in order to meet tighter capital regulations. (PR)