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Monday, April 8, 2013

MUFG buys U.S. property loans from Deutsche worth $3.7 bln, (NYSE: MTU)

Mitsubishi UFJ Financial Group , Japan's largest lender by assets, is in advanced talks to purchase U.S. commercial property loans from Deutsche Bank worth about $3.7 billion, a source familiar with the matter said on Monday.The acquisition, which is likely to be agreed within a few days and will include Deutsche's team of bankers specialising in commercial real estate loans, comes amid an aggressive push by MUFG to ramp up its U.S. assets.MUFG, which has the largest U.S. presence among Japanese banks, has been acquiring local lenders and building up loans to corporations and infrastructure projects.The acquisition will be made by MUFG's U.S. subsidiary UnionBank, said the source, who was not authorised to discuss the matter publicly. The San Francisco-based bank bought Pacific Capital Bancorp for about $1.5 billion last year.

Mitsubishi UFJ Financial Group, Inc. is a Japan-based company mainly engaged in the banking business. Shares of MTU remained unchanged at $6.56. In the past year, the shares have traded as low as $4.16 and as high as $6.56. On average, 2562300 shares of MTU exchange hands on a given day and today's volume is recorded at 0.



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