Deals
Mitsubishi UFJ Agrees to Buy BofA Stake in Japan Venture
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Mitsubishi UFJ Financial Group Inc. agreed to buy Bank of America Corp.’s stake in their private bank venture as Japan’s biggest lender expands services to wealthy households.
The Japanese bank will complete the purchase of the 49 percent stake in Mitsubishi UFJ Merrill Lynch PB Securities Co. on Dec. 26, the companies said in a statement in Tokyo today. Mitsubishi UFJ will pay 39 billion yen ($471 million), two people with knowledge of the matter said yesterday.