MUFG considers majority takeover of Shriram Finance over $10bn
Business
Japanese banking giant MUFG is thinking about upping its stake in Shriram Finance to more than 50%, which could become the largest foreign investment ever in India's financial sector.
Right now, MUFG owns about 20% of Shriram, so it would need to put in more than $10 billion extra if it goes ahead.
MUFG's April stake targets small businesses
MUFG first bought into Shriram Finance in April, grabbing two board seats and showing it is serious about India.
The move fits its plan to grow alongside India's booming economy, especially since Shriram focuses on everyday businesses like truckers and small shop owners.
Talks are still early, but if it happens, this deal could give MUFG a bigger role in Shriram Finance.