MUFJ on track to buy RBS infrastructure arm
Mitsubishi UFJ Financial Group is in final talks to buy the infrastructure advisory business of Royal Bank of Scotland in Australia, Dow Jones reports. Speculation over MUFJ's interest in buying niche businesses in Australia has circulated since early this year, and the Japanese bank was first linked to the RBS advisory business in July. MUFJ trades under the name The Bank of Tokyo-Mitsubishi UFJ in Australia and has A$8 billion in assets. The bank has increased its assets in Australia by a quarter over two years. RBS, with about $3 billion in assets in Australia, has cut its exposures by about 40 per cent over the same period.