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Mitsubishi UFJ megabank says it plans to acquire Thai Bank of Ayudhya 75% stake, is approximately $ 56 billion.
Bank of Tokyo-Mitsubishi UFJ said in a statement that it has an agreement with GE Capital to buy 25% of its shares in Bank of Ayudhya, make an offer to the other shareholders in order to ensure a majority stake in Thailand creditors.
It said it will work with Ratanarak Group, Bank of Ayudhya a quarter of a number of existing shareholders, who owned the next stage of its development.
Bank of Tokyo-Mitsubishi UFJ, said the Offer may be officially launched in November.
The transaction is subject to regulatory approval.