Japan’s MUFG explores raising Shriram Finance stake above 50%

Japan’s largest bank Mitsubishi UFJ Financial Group is exploring ways to raise its stake in Shriram Finance above 50%, from about 20% now.
It may need to invest more than $10 billion to gain control, taking its total commitment in the company past $14 billion.
Shriram lends to truck operators and small businesses, and has a strong presence in smaller cities and rural India.
Talks are at an early stage with no timeline. Shriram shares rose 6% after the report, their biggest gain in four months.

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