• Kyodo, Bloomberg

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Mitsubishi UFJ Financial Group Inc. plans to sell part of its American banking unit MUFG Union Bank to U.S. Bancorp in a deal expected to be worth over ¥1 trillion ($9.12 billion), sources familiar with the matter said Tuesday.

The Japanese financial group will acquire MUFG Union Bank's operations for corporate customers and then sell all the shares to U.S. Bancorp, the sources said.

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