NEW DELHI (dpa-AFX) - MUFG Bank, Ltd., a subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG, MBFJF, 8306.T), said on Friday that MUFG Bank has inked a deal with Shriram Finance Limited, an Indian non-banking financial company, and its major shareholders, Shriram Ownership Trust and Shriram Capital Private Limited, to subscribe to a preferential allotment of 20% equity shares in Shriram Finance.
The total investment amount is expected to be around INR 396.2 billion, or around JPY 682.3 billion.
Post transaction, Shriram Finance will become an equity method affiliate of both MUFG and MUFG Bank.
In addition, MUFG Bank has entered into a memorandum of understanding for a strategic partnership with Shriram Finance to boost the growth of Shriram Finance.
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