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Home JAPAN MANUFACTURE NEWS

Sumitomo Mitsui to take 10% stake in SBI Holdings, source says

by 198 Japan News
June 21, 2022
in JAPAN MANUFACTURE NEWS
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Sumitomo Mitsui Financial Group is preparing to take a stake in SBI Holdings, according to a person familiar with the matter, marking a major alliance between two Japanese financial giants.

Japan’s second-largest banking group plans to hold as much as 10% of SBI, a stake valued at about ¥60 billion ($443 million), the person said, asking not to be identified because the discussions are private.

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  • Sumitomo Mitsui's deal to take 10% stake in SBI Holdings would mark another significant acquisition for the bank after a string of other deals.  | REUTERS



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