MUFG to Buy Indonesian Car Loan Company for $467 Million: Nikkei
Heavy traffic on highways at Tegal Parang, South Jakarta, Indonesia.
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Mitsubishi UFJ Financial Group will buy Mandala Finance, an automobile loan provider in Indonesia, for 7 trillion rupiah ($467 million), Nikkei reported.
The Japanese company’s banking unit, MUFG Bank, and PT Adira Dinamika Multi Finance, a car loan provider under MUFG’s local subsidiary Bank Danamon, will jointly acquire shares in Mandala Finance, the newspaper said. The purchase would enable MUFG to become the industry leader in Indonesia.