Shares in Aozora Bank, the Japanese lender controlled by Cerberus Capital Management, and Shinsei Bank, backed by billionaire Christopher Flowers, rose in Tokyo trading after the banks confirmed they are in merger talks, reports Bloomberg. Aozora gained nearly 9% and Shinsei 6% on news that the two are discussing creating Japan’s sixth-largest bank, with about Y18,000bn ($188bn) of assets.

This entry was posted by Gwen Robinson on Thursday, June 25th, 2009 at 5:12 and is filed under Capital markets, M&A, People, Private equity. Tagged with Aozora Bank, cerberus, christopher flowers, Shinsei Bank. Edit this entry.