KUALA LUMPUR, Sept 20 — CIMB Group Holdings Bhd today announced that Mitsubishi UFJ Financial Group’s (MUFG) banking entity, Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU), had sold its entire stake in the CIMB Group via an overnight block trade.
BTMU had owned a 4.6 per cent stake in CIMB, equivalent to 412 million shares.
In a statement today, CIMB said the divestment was part of MUFG’s strategic global master plan which included a review of its portfolio of existing investment in its affiliates.
Notwithstanding the divestment, MUFG and CIMB would maintain their current collaboration founded on a mutually beneficial 40-year partnership.
“We have had a mutually rewarding relationship over the last 40 years, and while MUFG’s capital priorities have necessitated this move, I am confident our relationship will remain strong.
“We will continue to be trusted business partners and look forward to further develop our collaboration in complementary areas,” said CIMB Group’s Chief Executive, Tengku Datuk Seri Zafrul Aziz.
Meanwhile, MUFG’s Chief Executive Officer for Asia and Oceania, Takayoshi Futae said the mutual respect and partnership between the parties would not change, adding, it would continue to explore further ways to grow in Malaysia with CIMB’s support.
Headquartered in Tokyo, Japan, MUFG is one of the world’s leading financial groups with a global network of over 2,000 offices across more than 50 countries.