Shinsei/Aozora merger progresses slowly
Shinsei Bank, 32.5% owned by J.C. Flowers & Co., and Aozora Bank, 55% owned by Cerberus Capital Management LP, are having headaches over delays to their merger plan, originally aimed to complete in October this year.
Although Shinsei and Aozora both reported profits up until December last year, the Financial Services Agency of the Japanese government is still inspecting their plan. Should the agency determine that...
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