Mitsubishi UFJ Is Said to Consider Sale of U.S. Banking Unit
- Japanese lender works with adviser on MUFG Union Bank options
- Mitsubishi UFJ acquired Union Bank in 2008 for $3.5 billion
This article is for subscribers only.
Mitsubishi UFJ Financial Group Inc. is considering selling its U.S. banking arm, as consolidation heats up in the American financial industry, people familiar with the matter said.
The Japanese lender is working with an adviser to explore options for MUFG Union Bank NA, said the people, who asked to not be identified because the matter isn’t public. Mitsubishi UFJ has held some informal discussions with select potential buyers of the unit, though it isn’t conducting a formal auction process, they said.