Monday 7th of February 2022 04:24:07 AM

UBS, Mitsubishi weigh sale of real estate venture, may seek $1.7B - Bloomberg

Connected puzzle pieces with the acronym M&A. Merger and acquisition in business cagkansayin/iStock via Getty Images
  • UBS's (NYSE:UBS) asset management arm and Mitsubishi Corp. (OTCPK:MSBHF) are considering selling their real estate management joint venture for ~JPY 200B ($1.7B), Bloomberg reports, citing people with knowledge of the matter.
  • Mitsubishi UFJ (NYSE:MUFG) Trust & Banking is among the possible buyers of the firm called Mitsubishi Corp. UBS Realty, the people said.
  • The joint venture, which manages assets for Japanese real estate investment trusts, is 51% owned by the Mitsubishi (OTCPK:MSBHF) group of companies, with UBS (UBS) Asset Management owning the rest.
  • Talks with Mitsubishi UFJ (MUFG) Trust are continuing, and no agreement has been reached yet. And the companies may seek for other acquirers, the people told Bloomberg.
  • Last September, U.S. Bancorp (NYSE:USB) acquired MUFG Union Bank's core regional banking franchise from Mitsubishi UFJ Financial Group (MUFG) for ~$5.5B in cash and stock.


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