Mitsubishi UFJ to buy BofA's stake in Japanese banking venture - Bloomberg
Dec 12 (Reuters) - Mitsubishi UFJ Financial Group is set to buy Bank of America Corp's stake in their Japanese private banking venture for 39 billion yen ($470 million), Bloomberg reported, quoting two people with knowledge of the matter.
Japan's biggest bank will own Mitsubishi UFJ Merrill Lynch PB Securities Co after buying the 49 percent, Bloomberg reported. ()
Bank of America's Japanese brokerage unit will continue to provide mutual funds, derivatives and structured products to the private bank even after the sale.
A Bank of America spokesman declined to comment on the report.
- Study of smoking cancer patients fuels e-cigarette debate
- Islamic State closes in on Syrian town, refugees flood into Turkey |
- Exclusive: Iran seeks give and take on Islamic State militants, nuclear program
- Alibaba IPO ranks as world's biggest after additional shares sold
- Accused White House intruder is decorated Iraq war veteran