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Mitsubishi UFJ Financial Group Inc (NYSE:MTU) is one of those banks which are thinking to acquire TPG Capital’s $1.6 billion stake in Indonesia’s PT Bank Tabungan Pensiunan Nasional, two of the sources familiar with the matter told.
Bank of Tokyo-Mitsubishi UFJ that is a division of Japan’s largest publicly traded lender, is looking to purchase stake of the TPG, but companies are not yet on talking terms, the anonymous sources added, who want to remain hidden, as the information they are providing is not remotely public. The Indonesian financial institute share price increased by 3.8 percent to 4,825 rupiah in Jakarta trading today, according to Bloomberg.
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In the view of Jovent Giovanny, Jakarta-based analyst at PT Indo Premier Securities, BTPN is the name of an important bank and TPG caused it to grow significantly in the past few years.
MGIC Investment Corp. (NYSE:MTG) on the other hand, has managed to obtain $1.1 billion by selling stock and bonds in the capacity of insurer. The company basically vended $450 million in convertible senior notes and 135 million shares of stock for $5.15 apiece. According to the statement of the company, the shares went down by 7.8 percent to $5.17 at 9:41 a.m. in New York while they closed at the level of $5.34 on March 5th.
Is MTG a Solid Investment at These Levels? Read This Report For Details
Chief Executive Officer Curt Culver, is also looking to raise cash levels because, the company is operating with high of risks in the eye of some analysts.
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