November 6, 2017 / 8:27 AM / in a year

BRIEF-Sumitomo Mitsui Financial Group to cut voting power in Sumitomo Mitsui Finance and Leasing

Nov 6(Reuters) - Sumitomo Mitsui Financial Group Inc

* Says it and Sumitomo Corporation entered into a basic agreement concerning the reorganization of their joint leasing partnership

* Says the company will transfer a part of shares of Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), which is a JV of the company and Sumitomo Corporation, and will cut voting power in SMFL to 50 percent from 60 percent

* Says the company and Sumitomo Corporation will hold 50 percent stake in the JV respectively after the transaction

* Price undetermined

* Says transaction date will between January 2019 and March 2019

Source text in

Further company coverage: (Beijing Headline News)

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