Bank of Ayudhya PCL completed the sale of a 50% stake in its microfinance unit Ngern Tid Lor Co. Ltd. to Siam Asia Credit Access Pte. Ltd.
The deal was completed Feb. 28, according to a same-day release.
The Thai bank said in October 2018 that it would sell the stake to Siam Asia Credit Access, which is ultimately owned by a consortium led by CVC Capital Partners Asia Fund IV and Equity Partners Ltd.
Bank of Ayudhya is a unit of Japan's Mitsubishi UFJ Financial Group Inc.