MUFG secures 46.08 million shares of WealthNavi, will proceed with purchase

It closed the tender offer on 20 January 2025.

MUFG has secured over 46.086 million shares of Japanese wealth management company WealthNavi Inc.

The number of shares secured exceeded the minimum number of shares to be purchased to proceed with the buyout, set at over 30.988 million shares. WealthNavi has over 51.11 million shares, according to MUFG.

MUFG first announced its intention to purchase WealthNavi in November 2024. At the time, the total price was estimated to be at $661.53m. 

The Japanese megabank conducted the tender offer from 2 December 2024 to 20 January 2025.

WealthNavi is an automated wealth management service, targeting working families with the goal of providing access to a global, diversified investment portfolio for their retirement.

It has over JPY1.3t in assets under management as of 4 July 2024 and is reportedly the first-ranked domestic robo-advisor in Japan in terms of assets under management and number of users, MUFG said.