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J Trust completes purchase of Mongolian finance company

Japan-based J Trust Co. Ltd. completed the acquisition of Mongolian finance company Capital Continent Investment NBFI.

Capital Continent Investment is now a subsidiary of J Trust unit JTrust Asia Pte. Ltd., following approval granted by the Financial Regulatory Commission of Mongolia on April 27, according to a May 14 statement.

JTrust Asia had struck the share purchase agreement to acquire 100% of Capital Continent Investment for ¥325 million in October 2016.

As of May 14, US$1 was equivalent to ¥109.61.