TOKYO, June 22 Japan's Mitsubishi UFJ Financial
Group (MUFG) will pay around $4.1 billion to acquire
Bank of Ayudhya Pcl, Thailand's fifth-largest lender,
as part of an expansion into overseas markets, the Nikkei
The amount, which totals 400 billion yen, would mark the
biggest acquisition by a Japanese bank in Asia, the Nikkei
It would also mark the second-largest foreign acquisition by
a Japanese bank following the 900 billion yen MUFG payed for a
21 percent stake in U.S. brokerage Morgan Stanley, the
MUFG will launch a tender offer bid to acquire at least 51
percent of shares in Bank of Ayudhya, including U.S.
conglomerate General Electric Co's 25 percent stake in
the Thai lender, the Nikkei reported without citing sources.
MUFG is in the final stages of talks with Bank of Ayudhya's
family owners and General Electric, with the aim of formally
announcing the acquisition early next month, the Nikkei said.
Bank of Ayudhya's strengths are in consumer credit and
lending to mid-sized firms, which will allow MUFG to expand its
customer base in Thailand, according to the Nikkei.