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MUFG in talks to buy Deutsche US property loans worth $3.7 bln-source
April 8, 2013 / 12:45 AM / in 5 years

MUFG in talks to buy Deutsche US property loans worth $3.7 bln-source

TOKYO, April 8 (Reuters) - Mitsubishi UFJ Financial Group , Japan’s largest lender by assets, is in advanced talks to buy U.S. commercial property loan assets from Deutsche Bank worth about $3.7 billion, a source familiar with the matter said on Monday.

MUFG, which owns San Francisco-based Union Bank, has been focusing its overseas expansion efforts on the United States and Asia and has been exploring acquisition opportunities in both areas.

The news was first reported by the Nikkei newspaper, which also said MUFG was also looking to acquire a Deutsche team of bankers.

A MUFG spokesman declined to comment.

MUFG and rival Japanese banks have been aggressively building up overseas loans in recent years, able to take advantage of their relatively healthy balance sheets as they have little exposure to Europe’s troubled economy.

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