Mitsubishi UFJ Financial Group (MUFG) is close to acquiring a minority stake in India's Shriram Finance, Bloomberg reported on Monday, citing sources familiar with the discussions.
The report said Mitsubishi UFJ Financial Group is considering investing more than 500 billion yen (about $3.2 billion) for roughly a 20% stake.
Talks are at an advanced stage, and an agreement could be reached as soon as this week, though the final price and stake size may still change, according to Bloomberg.
Mitsubishi UFJ Financial Group and Shriram did not respond to MT Newswires' request for comment.
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