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August 5, 2019

MUFG concludes First State Investments purchase in $2.7bn deal

Mitsubishi UFJ Trust and Banking, a unit of Japan’s Mitsubishi UFJ Financial Group (MUFG), has closed the acquisition of First State Investments (FSI) in a deal worth $2.7bn.

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The deal was announced last October.

FSI will now operate on a standalone basis, managed by a board having representatives from both the parties.

Independent non-executive directors will be added in the coming year.

Mitsubishi UFJ Trust and Banking president and CEO Mikio Ikegaya said: “We are committed to supporting FSI’s strategy of delivering high-quality investment capabilities and establishing and maintaining strong client relationships.

“We look forward to working with First State Investments as we continue to expand our investment management business and investment offerings globally.”

Called Colonial First State Global Asset Management in Australia, FSI is the global asset management arm of Commonwealth Bank of Australia.

FSI has operations across Asia, Europe, and the US.

At the end of March 2019, the business had $155.1bn in funds under management.

FSI CEO Mark Steinberg said: “Under MUFG ownership, we will have the financial backing and shared strategic vision to enable us to become an even stronger global investment manager.

“Our investment teams will continue to enjoy their current levels of investment autonomy, which has underpinned the business’ strong growth and long-term performance.

“Their commitment to incorporating ESG principles across processes and strategies remains central to each investment approach.”

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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