Mitsubishi UFJ To Buy Bank Of Ayudhya In July

Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) (TYO:8306) is set take control of Thailand’s Bank of Ayudhya (OTCMKTS:BKAHF) for 560 billion yen ($5.6 billion), making it the largest banking takeover deal in the South East Asian nation. Japan’s biggest bank seeks to acquire 75 percent of the fifth-largest bank in Thailand, Bank of Ayudhya (OTCMKTS:BKAHF), by offering 39 Thai bhat ($1.26) for each of their shares in the lender. The top Japanese bank already got confirmation from GE Capital to sell the latter’s 25 percent stake in Bank of Ayudhya. Thailand Part Of Fast Growing ASEAN Economy The proposed deal would…