TOKYO -- Mitsubishi UFJ Financial Group will acquire fund-administration operations in the Americas from Luxembourg-based Maitland, boosting economies of scale in a business that provides a valuable stream of steady income from fees.
The deal, worth an estimated 3.5 billion yen ($32.5 million), will boost assets under administration at MUFG subsidiary Mitsubishi UFJ Trust and Banking by $26.3 billion, bringing the total to roughly $604 billion and lifting it into fifth place worldwide from sixth. The transaction is expected to be completed by spring 2020.
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