MUFG Bank to acquire a 20% stake in Shriram Finance from Sanlam for INR396.18bn.

MUFG Bank, a Japanese bank holding and financial services company, agreed to acquire a 20% stake in Shriram Finance, an Indian non-bank lender, from Sanlam, a South African insurance company, for INR396.18bn. "The investment forms part of MUFG's strategy to expand its lending activities in India, with plans to move beyond corporate banking into lending to SMEs and individuals," Masashige Nakazono, MUFG Bank Executive Officer.