The Wall Street Journal reported that Sumitomo Mitsui Financial will continue to pursue selective acquisitions in 2014, with some European firms as interested sellers.

The article quoted Sumitomo Mitsui Financial’s president Koichi Miyata as saying, “I think there will be more asset sales as global financial institutions, particularly European players, have been shedding their assets to build capital.”

A unit of Perella Weinberg Partners recently announced the sale of its portfolio company, Flagship Rail Services, to Sumitomo Mitsui Banking Corporation in a transaction valued at $1.1 billion.

To read the full WSJ article click here.

Previously on monitordaily Flagship Rail Acquired by Sumitomo Mitsui in $1.1B Deal, December 12, 2013