Mitsubishi UFJ Financial acquires stakes in Indian firms

Our Bureau Mumbai | Updated on August 06, 2019 Published on August 06, 2019

Tokyo-based Mitsubishi UFJ Financial Group (MUFG) has acquired minority stakes in multiple Indian companies including Tata Global Beverages, Dr Reddy’s, Marico and Godrej Consumer. This follows MUFG’s acquisition of global investment entities such as Uk-based First State Investments, which held shares in the Indian companies.

Godrej Consumer Products Ltd said MUFG now owns 5.47 per cent in the company. The Japanese company has increased its stake in Marico Ltd to 6.47 per cent from 0.02 per cent earlier. Pharma major Dr Reddy’s said MUFG has acquired an indirect interest amounting to 8.41 per cent, up from 0.05 per cent stake earlier. MUFG also acquired an indirect interest of 9.93 per cent stake in Tata Global Beverages Ltd.

MUFG is one of the world’s leading financial groups with a global network with around 3,000 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

Published on August 06, 2019
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