TOKYO (Reuters) – Mitsubishi UFJ Financial Group said on Monday it would buy Mandala Multifinance, a major auto loan provider in Indonesia, for 7 trillion rupiah ($467 million) to deepen its Asian presence and tap growth in consumption in emerging markets.
MUFG’s main Japanese banking unit MUFG Bank will take 70.6% and a car loan unit of Bank Danamon, MUFG’s local banking unit, will hold 10%.
($1 = 14,990.0000 rupiah)
(Reporting by Makiko Yamazaki; Editing by Kim Coghill)
