'MUFG To Pause Talks On Investing In Indian Nonbank; Japanese Financial Group Had Been Seeking Stake In HDFC Bank Unit' - Nikkei Asia
Portfolio Pulse from Benzinga Newsdesk
Mitsubishi UFJ Financial Group (MUFG) has decided to pause its talks on acquiring a stake in HDB Financial Services, a nonbank financial company under India's HDFC Bank, due to a failure to agree on deal terms. MUFG had proposed an investment of $1.4 billion to $2.1 billion for a 20% stake.
September 12, 2024 | 5:09 pm
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MUFG has paused its investment talks with HDB Financial Services due to a disagreement on terms. The proposed investment was significant, ranging from $1.4 billion to $2.1 billion for a 20% stake.
The halt in talks indicates a potential setback in MUFG's expansion plans in India, but as the talks are paused and not canceled, the impact on MUFG's stock price is likely neutral in the short term.
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