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Mizuho to Buy RBS North America Loan Assets for $3 Billion

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Mizuho Financial Group Inc. will buy North American loans from Royal Bank of Scotland Group Plc for about $3 billion, gaining access to corporate clients in the region as Japan’s biggest banks deepen their global expansion.

The sale of the $36.5 billion of loan commitments, including $3.2 billion of drawn assets, is expected to be completed by the end of June, RBS said in a statement Thursday. The Edinburgh-based bank will lose $200 million on the disposal, it said.