Sumitomo Mitsui to acquire a 35% stake in LCI from Libra Group.

Sumitomo Mitsui, a financial institution, agreed to acquire a 35% stake in LCI from Libra Group, an international business group whose subsidiaries own and operate assets in nearly 60 countries. Financial terms were not disclosed. "We are honored to partner with SMFL, a visionary global organization with a rich and profound history. Every person at SMFL we have dealt with has shown the highest level of professionality, moral and ethical character, as well as a deep commitment to sustainability and social impact. It is these shared values that will create an enduring partnership. We expect to progressively grow and deepen our relationship with SMFL over the years, our long-term outlook and belief system are strikingly similar. The possibilities for collaboration are endless, from aviation, to maritime, to renewable energy, to all that lies in between. We look forward to working together over many years and across many industries to meet tomorrow's challenges," George M. Logothetis, Libra Group Executive Chairman.