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MUFG among first round bidders for GE's $1.5 bln Thai bank stake-sources
November 29, 2012 / 5:40 AM / 5 years ago

MUFG among first round bidders for GE's $1.5 bln Thai bank stake-sources

Nov 29 (Reuters) - Japan’s biggest bank Mitsubishi UFJ Financial Group is among the suitors to submit preliminary bids for General Electric’s (GE) $1.5 billion stake in Thailand’s fifth-largest lender, Bank of Ayudhya , sources said.

GE received “multiple” bids last week for its 25.3 percent stake in Bank of Ayudhya, one source with direct knowledge of the matter told Reuters, adding that short-listed parties may put in second-round bids after Christmas.

Morgan Stanley, which is advising GE on the stake sale, declined to comment.

MUFG and a Singapore-based GE Capital spokesman also declined to comment. The sources declined to be identified because the auction process is not public.

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