11:22 AM EST, 11/29/2024 (MT Newswires) -- Mitsubishi UFJ Financial Group ( MUFG ) and its MUFG Bank unit agreed to sell a 25% stake in HC Consumer Finance Philippines, or HCPH, to Security Bank for 26.5 billion Japanese yen ($176.3 million).

The transaction is expected to close in Q1, Mitsubishi UFJ Financial Group ( MUFG ) said Friday in a statement.

Security Bank is an affiliate of Mitsubishi UFJ Financial ( MUFG ) in the Philippines, and the Japanese group's Bank of Ayudhya subsidiary in Thailand will continue to own the remaining 75% in HCPH. Mitsubishi UFJ Financial ( MUFG ) remains HCPH's ultimate parent company, owing a 20% stake in Security Bank and 77% in the Thai bank.

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