BTMU $620 million divestment of 4.6% stake in CIMB

Overview:

• Bank of Tokyo-Mitsubishi UFJ (BTMU)—the banking entity of Mitsubishi UFJ Financial Group (MUFG)—has disposed its 4.6% stake in CIMB Group Holdings, which amounts to all BTMU's 412 million shares in CIMB, for $620 million.
• The divestment is in line with MUJG's strategic global master plan to improve its capital efficiency.
• The transaction was completed through accelerated book building by joint bookrunners Morgan Stanley, Credit Suisse and CIMB Investment Bank.
• Prior to the divestment, BTMU was the fourth-largest shareholder in CIMB, Malaysia's second-largest banking group by assets.

Wai Yee Tsang - Journalist