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MUFG Union Bank Sale to U.S. Bancorp Moved to H2/2022

May 16, 2022, 07:00 AM
Filed Under: Banking News

On September 21, 2021, MUFG and MUFG Bank announced an agreement to sell all shares of MUFG Union Bank, MUFG’s subsidiary owned through MUFG Americas Holdings Corporation, to U.S. Bancorp, with an expected closing date in the first half of CY2022, pending all required regulatory approvals.

While significant progress has been made by both parties in planning for the closing and integration, the U.S. regulatory approval process remains ongoing and, therefore, considering the current timing, the expected closing date has shifted to the second half of CY2022, subject to the receipt of required regulatory approvals and the satisfaction of other closing conditions. We will announce the planned closing date no less than 30 days prior to the closing date.

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