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Assets include Tokio Marine’s businesses in Indonesia, Malaysia, Singapore and Thailand. Read more at straitstimes.com.

TOKYO (Reuters) - Mitsubishi UFJ Financial Group said on Monday it would buy Mandala Multifinance, a major auto loan provider in Indonesia, for 7 trillion rupiah ($467 million) to deepen its Asian presence and tap growth in consumption in emerging markets.

Mitsubishi UFJ Financial Group has agreed to acquire Indonesian auto loan provider Mandala Multifinance for USD 467m to expand its presence in Asia and tap into emerging middle-class consumers in the region. The acquisition will enable MUFG to expand its auto loan business in Indonesia via Adira Dinamika Multi Finance.

Mitsubishi UFJ Financial Group said on Monday it plans to acquire listed Indonesian motorcycle loan company Mandala Multifinance for 7 trillion rupiah ($465 million).