News: LNK UPDATE 1-Mitsubishi UFJ unit to buy Australia's Link Administration for $802.7 million

(Adds more details on deal from paragraph 2)

Dec 18 (Reuters) - Australia's Link Administration (LNK) said on Monday that a unit of Mitsubishi UFJ Financial Group 8306.T has agreed to buy the company for an equity value of A$1.2 billion ($802.7 million).

Under the deal, shareholders of Link Administration will receive A$2.10 in cash, in addition to a dividend of A$0.16 per share, expected to be paid by the company, resulting in a total of A$2.26 per share, implying an enterprise value of A$2.1 billion ($1.41 billion)

The Japanese banking major has a 6.4% stake in the share registry firm, as of Nov. 27.

The board said that it recommends that Link Group shareholders vote in favour of the scheme in the absence of a superior proposal. ($1 = 1.4950 Australian dollars)