Sumitomo Mitsui, Orix to invest $81.9m in Cambodia's Acleda Bank
Sumitomo Mitsui Banking Corp (SMBC) and Orix are to acquire 6% and 6.25% of Acleda Bank respectively at a total cost of c. JPY 10bn ($81.9m); Acleda Bank is Cambodia's largest bank. Orix, which will now have a 12.25% stake in the bank, will nominate a director at Acleda once the deal is completed. The deal sees SMBC's stake in the bank rise to 18.25%, thereby deepening ties with the local lender, as well as fitting with the bank's ongoing expansion plans.
TOKYO -- Sumitomo Mitsui Banking Corp. and financial services group Orix will each invest an additional 10 billion yen ($81.9 million) or so in Cambodia's biggest bank, deepening ties with a local lender boasting an extensive branch network.

An announcement is expected as early as Monday.