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The two sides are seeking to reach an agreement in about a month, the people said, asking not to be identified discussing private information. MUFG has been working on the purchase of a 20% stake in HDB Financial Services, Bloomberg News reported on April 12.
Bank of Tokyo-Mitsubishi UFJ (MUFG) is set to buy a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank, at a valuation of $9-10 billion. The decision is expected to take place next week at the HDFC Bank board meeting. The deal is expected to be among the largest deals in the shadow banking space in India. HDFC Bank owns 95% of the shadow bank, while employees own 5% as ESOPs.
HDFC Bank's stock reacts to MUFG's 20% stake purchase in HDB Financial Services at $9-10 billion valuation pre-IPO.
TOKYO -- Mitsubishi UFJ Financial Group seeks to invest in an Indian nonbank lender affiliated with top local lender HDFC Bank, aiming to ca
/PRNewswire/ -- MUFG Investor Services U.S., the U.S. asset servicing arm of Mitsubishi UFJ Financial Group, today announced the launch of its professional...