Colonial First State Global Asset Management to be acquired by Mitsubishi UFJ for £2.2bn
Buying 100% of Colonial First State
First State parent bought by Japanese group
Asset management business Colonial First State Group, a wholly-owned subsidiary of Australian financial group Commonwealth Bank of Australia, is to be acquired by Mitsubishi UFJ Trust and Banking Corporation for total cash proceeds of approximately A$4.0bn (£2.2bn).
The Japanese financial services group, which is a consolidated subsidiary of MUFG, has entered into an agreement to acquire 100% of shares in the nine subsidiaries of Colonial First State Group, which...
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