Tokyo Star goes back to Lone Star
LONE STAR FUNDS IS ONCE AGAIN TAKING ownership of Tokyo Star Bank, less than four years after selling the struggling commercial lender to private equity firm Advantage Partners (AP). Having failed to repay its debts, AP has reportedly agreed to give away its 100% holding Tokyo Star, as well as its board seats, to a consortium of Tokyo Star’s lenders. In return, it will be exonerated of all payment responsibilities.
Distressed private equity specialist Lone Star is set to become Tokyo Star's largest shareholder, with a 33% stake; the remainder will be divided up between fellow lenders Shinsei Bank, Aozora Bank and...
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