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Mitsubishi Ufj Financial Group Inc To Buy Bank Of America Merrill Lynch's Stake In Japan Private Banking Joint Venture-Reuters


Thursday, 13 Dec 2012 04:30am EST 

Reuters reported that Mitsubishi UFJ Financial Group Inc has agreed to buy out Bank of America Merrill Lynch's stake in their Japanese private banking joint venture for about $480 million. Mitsubishi UFJ Financial Group Inc will buy Merrill Lynch's 49% stake in Mitsubishi UFJ Merrill Lynch PB Securities Co, the private banking venture formed in 2006, for an undisclosed sum, the companies said in a statement. A source with direct knowledge of the matter said the value of the deal is about 40 billion yen ($482.3 million). 

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