Cerberus begins Aozora exit with $1.8b sell down
Cerberus is to sell the bulk of its 58% holding in Japan's Aozora Bank through a public market sale that could generate up to JPY158.1 billion ($1.8 billion). The US firm's stake would fall to 8%.
According to The Financial Times, Cerberus is offering 632.5 million shares to investors, including an overallotment, representing 38% of the bank's outstanding shares. The JPY158.1 billion stated is...
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