HANOI: VietinBank, Vietnam's second-biggest partly private lender by assets, is set to sign a deal to sell shares to Japan's Bank of Tokyo-Mitsubishi UFJ, making the Japanese lender its strategic investor, a VietinBank official said on Wednesday.
The two banks are scheduled to sign the deal on Thursday in Hanoi, the official said without giving any value or details of the sale.
Bank of Tokyo-Mitsubishi UFJ plans to buy 20 percent of VietinBank from the Vietnamese government for about 60 billion yen ($720 million), a source close to the deal said earlier this month.
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