By Reuters Staff
2 Min Read
TOKYO (Reuters) -Sumitomo Mitsui Financial Group Inc plans to buy nearly 5% of Jefferies Financial Group Inc shares for $386 million, the U.S.-based company said on Wednesday, as the Japanese firm looks to boost its presence in the United States.
FILE PHOTO: A man walk past a signboard of Sumitomo Mitsui Banking Corporation s signboard at its branch in Tokyo, Japan, January 25, 2017. Picture taken on January 25, 2017.REUTERS/Kim Kyung-Hoon
The companies will also form a partnership to seek cross-border M&A opportunities involving Japanese companies, New York-based Jefferies said bit.ly/3iauf5j.
Japan’s second-biggest lender by assets will also provide a $1.65 billion revolving credit facility and a $250 million subordinated loan to support Jefferies’ lending capabilities.
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Tokyo, April 29 (Jiji Press) Japan’s Sumitomo Mitsui Financial Group Inc. has announced a plan to take a 49 pct equity stake in top Vietnamese consumer lender VPBank Finance Co. as early as October.
Through the deal, estimated at 100 billion to 150 billion yen, the megabank group aims to strengthen its operations in the Asia market with strong growth potential.
According to Sumitomo Mitsui’s announcement Wednesday, VPBank Finance is a wholly owned subsidiary of Vietnam Prosperity Joint Stock Commercial Bank, a major lender in the Southeast Asian country.
VPBank Finance, which trades as FE Credit, controls about half of the country’s consumer finance market.
EnergySoutheast Asia s largest bank DBS to phase out thermal coal financing
Reuters
2 minutes read
A DBS booth is seen at the Singapore Fintech Festival in Singapore November 16, 2016. REUTERS/Edgar Su
Singapore bank DBS Group (DBSM.SI) said on Friday it would phase out financing for customers that derived revenue from thermal coal and had committed to zero exposure to the sector by 2039.
The move comes as banks around the world have faced increasing public, investor and political pressure to join the battle against climate change and stop financing the coal industry.
DBS will cease signing up new customers deriving more than 25% of their revenue from thermal coal with immediate effect, it said in a statement.