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People queue inside a branch of the Mitsubishi UFJ (MUFJ) Financial Group's bank of Tokyo-Mitsubishi UFJ in Tokyo, Japan, February 1, 2016. REUTERS/Yuya Shino

 

Sullivan & Cromwell has advised Mitsubishi UFJ Financial Group (MUFG) on its $936 million investment in the Minnesota-based U.S. Bancorp.

The investment increases MUFG's stake in the fifth-largest U.S. bank to 4.4 percent from 2.9 percent, Reuters reported, adding that Bancorp will pay back some of the debt it owes the Japanese lender from the proceeds.

The S&C team was led by partners C. Michelle Chen, H. Rodgin Cohen, Keiji Hatano and Donald Toumey.

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

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