M&A

6 November, 2009

Japan's Sumitomo Trust, Chuo Mitsui say to merge

TOKYO, Nov 6 (Reuters) - Sumitomo Trust and Banking (8403.T) and Chuo Mitsui Trust Holdings (8309.T) said they plan to merge, creating Japan's largest trust bank and gaining scale to better compete in a crowded asset management industry.

The two banks aim to complete the merger by April 2012, they said in a statement. (Reporting by David Dolan)

Source: http://www.reuters.com