Cerberus to raise $1.7b through Aozora Bank exit
Cerberus Capital Management is set to raise 146.1 billion ($1.7 billion) as it sells the bulk of its 58% stake in Japan's Aozora Bank following a nine-year holding period.
The firm plans to sell the shares for JPY231 apiece, according to a statement made by the Tokyo-based bank yesterday. The price is 3.4% lower than Aozora's JPY239 close on the Tokyo Stock Exchange yesterday....
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