Uncertainty over Shinsei/Aozora merger
Buyout fund-controlled Japanese lenders Shinsei Bank and Aozora Bank may reportedly delay their planned merger, due to numerous problems, such as difficulty integrating systems and differentiation of their separate operations.
Shinsei is approximately one third owned by buyout firm JC Flowers and Co, while Aozora is about 55% owned by Cerberus Capital Management. The plan, aiming at a merger by October this year, is also dependent...
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