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Mitsubishi, UBS May Seek $1.7 Billion for Joint Real Estate Unit

Mitsubishi Corp. and UBS Asset Management, part of UBS Group AG, are considering the sale of a jointly owned real estate management company for about 200 billion yen ($1.7 billion), people with knowledge of the matter said. 

Mitsubishi UFJ Trust & Banking Corp. has emerged among possible buyers of the joint venture, called Mitsubishi Corp. UBS Realty, said the people, who asked not to be identified because the sales process isn’t public.