The Japanese Nikkei has reported that The Tokyo-Mitsubishi Bank UFJ – Mitsubishi UFJ Financial Group (MUFG), is expected to spend 60 billion Yen to hold 20% shares in the Vietnam Joint Stock Commercial Bank For Industry And Trade – Vietinbank (Code: CTG-HOSE).
The amount of 60 billion Yen (720 million USD) is seen as a huge number in a merger and acquisition in Vietnam, much higher than the number of 567,3 million USD that Mizuho Financial Group spent to hold 15% shares in Vietcombank .
Tokyo-Mitsubishi UFJ is expected to cost 22,800 VND / share, higher than the level of 20,000 VND / CTG which is currently traded on the stock market. This bank expects to complete the deal in the first half of 2013.
(Source: VnEconomy)