NEW
YORK, Dec. 1, 2022 /PRNewswire/ -- Mitsubishi
UFJ Financial Group (NYSE: MUFG) today announced that it has
completed the sale of MUFG Union Bank's core regional banking
franchise to U.S. Bancorp (NYSE: USB), following approvals from
banking regulators in the U.S. and Japan.
Under the terms of the definitive agreement announced in
September 2021, U.S. Bancorp
purchased MUFG Union Bank for $5.5
billion in cash and approximately 44 million shares of U.S.
Bancorp common stock. At transaction close, MUFG holds a minority
stake of approximately 3% in U.S. Bancorp. As previously disclosed,
the transaction excludes the purchase of MUFG Union Bank's Global
Corporate & Investment Bank, certain middle and back-office
functions, and other assets.
"We are very pleased to bring the sale to completion, which
enables MUFG to increase our focus and direct our resources on
accelerating growth in our Americas wholesale businesses," said
Kevin Cronin, MUFG Americas CEO and
Regional Executive. After the close of the sale, MUFG remains one
of the largest foreign banking organizations in the U.S.
MUFG's Americas operations, including its offices in
Latin America and Canada, are primarily organized under MUFG
Bank, Ltd., and are focused on Global Corporate & Investment
Banking, Japanese Corporate Banking, and Global Markets. Among
MUFG's key products are Debt Capital Markets, Working Capital
Solutions, Transaction Banking, Fixed Income Markets, and Corporate
Advisory. More information regarding MUFG's specific products and
services can be found at mufgamericas.com.
MUFG Americas
MUFG's Americas operations, including its offices throughout
Latin America and Canada, are primarily organized under MUFG
Bank, Ltd., and are focused on Global Corporate & Investment
Banking, Japanese Corporate Banking, and Global Markets, which
includes MUFG Securities Americas, Inc. (MUSA), a registered
securities broker-dealer. Key products include: Debt Capital
Markets, Working Capital Solutions, Transaction Banking, Fixed
Income Markets, and Corporate Advisory.
About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the
world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG
has a global network with approximately 2,100 locations in more
than 50 countries. The Group has about 160,000 employees and offers
services including commercial banking, trust banking, securities,
credit cards, consumer finance, asset management, and leasing. The
Group aims to "be the world's most trusted financial group" through
close collaboration among our operating companies and flexibly
respond to all of the financial needs of our customers, serving
society, and fostering shared and sustainable growth for a better
world. MUFG's shares trade on the Tokyo, Nagoya, and New
York stock exchanges. For more information, including
locations, banking capabilities and services, career opportunities,
and more, visit www.mufgamericas.com.
Cautionary Statement Regarding
MUFG's Forward-Looking Statements
This communication contains forward-looking statements. We use
words such as expects, intends, and similar expressions to identify
forward-looking statements. Actual results could differ materially
from those projected or forecast in the forward-looking statements.
MUFG assumes no obligation to update the information in this
communication, except as otherwise required by law. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date hereof.
Press Contact: Daniel
Weidman
Email: dweidman@us.mufg.jp
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SOURCE MUFG