November 29, 2012 / 5:40 AM / in 5 years

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.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below