Nomura appointed to oversee sale of Tokyo Star Bank
Lone Star Funds and its fellow creditors have hired Nomura to sell off Tokyo Star Bank, The Wall Street Journal reported, citing people familiar with the matter. Lone Star sold the asset to Advantage Partners (AP) less than four years ago but resumed control in May after the debts tied to the acquisition were not repaid. Other creditors include Shinsei Bank, Crédit Agricole and Aozora Bank.
It was reported yesterday that Australia and New Zealand Banking Group (ANZ) was considering a move for Tokyo Star. However, the sale process is believed to be at a very early stage with documentation...
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