Japan's biggest bank, the Bank of Tokyo-Mitsubishi UFJ (BTMU), plans to buy as much as 75% of Thailand's fifth-largest bank, Bank of Ayudhya (BAY), in a deal worth up to 177 billion baht.
A Bank of Ayudhya branch in the Yaowarat area of Bangkok. PATIPAT JANTHONG
BTMU has signed a share tender agreement with GE Capital International Holdings Corporation regarding its shareholding in BAY, the Japanese bank said in a filing to the Tokyo Stock Exchange yesterday.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.