Mitsubishi UFJ Financial Group to Sell 25% in HC Consumer Finance Philippines for $176.3 Million

MT Newswires Live11-30

Mitsubishi UFJ Financial Group (MUFG) and its MUFG Bank unit agreed to sell a 25% stake in HC Consumer Finance Philippines, or HCPH, to Security Bank for 26.5 billion Japanese yen ($176.3 million).

The transaction is expected to close in Q1, Mitsubishi UFJ Financial Group said Friday in a statement.

Security Bank is an affiliate of Mitsubishi UFJ Financial in the Philippines, and the Japanese group's Bank of Ayudhya subsidiary in Thailand will continue to own the remaining 75% in HCPH. Mitsubishi UFJ Financial remains HCPH's ultimate parent company, owing a 20% stake in Security Bank and 77% in the Thai bank.

Price: 11.88, Change: +0.30, Percent Change: +2.55

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