Japan’s biggest banks said to sign agreement with Saudi Aramco

Japan’s biggest banks said to sign agreement with Saudi Aramco

Oil tanks seen at the Saudi Arabia Shaybah oilfield complex in the Rub' al-Khali desert November 14, 2007. REUTERS/ Ali Jarekji

Mitsubishi UFJ Financial Group Inc.’s banking unit and its two biggest Japanese peers plan to sign a non-binding agreement with Saudi Arabian Oil Co. in Tokyo this week to expand lending to the state-run firm as it considers an initial public offering, people with knowledge of the matter said.

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