MUFG Seeks $2.6 Billion Shriram Finance Stake, ET Reports

Mitsubishi UFJ Financial Group is in advanced talks to purchase a 20% stake in Shriram Finance Ltd. for about $2.6 billion, the Economic Times reports, citing unidentified people familiar with the matter.

Both sides have signed an exclusivity agreement on negotiations, according to the publication. MUFG’s investment will be through a primary issuance via a preferential allotment and will not entail any secondary sale of shares, the Economic Times said.