Friday, 26 April 2024
Bank of Tokyo-Mitsubishi UFJ completes investment in the Philippines' Security Bank
Tokyo -- The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) (President & CEO: Takashi Oyamada), a member of Mitsubishi UFJ Financial Group (MUFG), announced today that it has completed the investment in Security Bank Corporation (Security Bank), a leading universal bank in the Philippines following the completion of required procedures including getting regulatory approvals which was announced on January 14, 2015. By the completion, Security Bank has become an equity method affiliate of BTMU.
Outline of the Investment
(1) Number of shares acquired：
Common shares: 150,707,778
Preferred shares: 200,000,000
2) Investment portion： approximately 20% (after dilution) of Security Bank’s common shares and preferred shares with voting rights
(3) Acquisition Price：
PHP 245 per common share
PHP 0.1 per preferred share
(4) Investment Amount： PHP 36,943 million (USD 792 million)
(5) Others： In a Security Bank’s Board Meeting today, two nominees from BTMU were elected to the Board of Directors of Security Bank.
Re-disseminated by The Asian Banker
