KUALA LUMPUR: Mitsubishi UFJ Financial Group’s banking arm The Bank of Tokyo-Mitsubishi UFJ Ltd has sold its entire 412 million CIMB shares or a 4.6 per cent stake in CIMB Group Holdings Bhd via an overnight block trade. CIMB, in a statement today, said the divestment was part of MUFG's strategic global master plan which included a review of its portfolio of existing investment in affiliates. MUFG’s Asia and Oceania network spanned 15 countries including Malaysia, where its presence had been enhanced by its capital investment in CIMB, which was made in various stages from 1974 onwards. Notwithstanding the divestment, both MUFG and CIMB would maintain their current collaboration founded on a mutually beneficial 40-year partnership, CIMB said. Takayoshi Futae, MUFG’s CEO for Asia & Oceania said as a global financial institution rooted in Asia, it has long been a committed partner to Malaysia’s growth.

Source: New Strait Times September 20, 2017 04:52 UTC