Japan's MUFG, State Bank of India partner to finance projects, including M&A
CNA
MUMBAI, March 11 : Japan's Mitsubishi UFJ Financial Group (MUFG) and the State Bank of India (SBI) on Wednesday announced a strategic partnership to structure and finance projects, including mergers, acquisitions and real estate financing for Indian and global clients.The alliance follows recent reforms by In
MUMBAI, March 11 : Japan's Mitsubishi UFJ Financial Group (MUFG) and the State Bank of India (SBI) on Wednesday announced a strategic partnership to structure and finance projects, including mergers, acquisitions and real estate financing for Indian and global clients.
The alliance follows recent reforms by India's central bank permitting domestic lenders to finance corporate acquisitions, funding up to 75 per cent of the deal value for listed and unlisted firms.
These new rules, effective April 1, also allow funding acquisitions up to 20 per cent of a bank's eligible capital base, providing Indian banks with fresh credit growth opportunities.
The alliance will combine SBI's domestic reach and market leadership in India and MUFG's global network and cross-border structuring expertise to support Japanese corporates expanding in India as well as Indian enterprises pursuing international growth, including entry into Japan and other global markets, SBI and MUFG said in a joint statement.
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