Shinsei and Aozora, two lossmaking Japanese banks backed by US buyout groups JC Flowers and Cerberus, are on Wednesday   of their merger. The deal will create Japan’s sixth-largest banking group and help consolidate the Japanese government’s holdings. The government has a 23.9% stake in Shinsei and 465m Aozora preference shares. JC Flowers has 32.5% of Shinsei while Cerberus owns 50.5% of Aozora.

This entry was posted by Gwen Robinson on Wednesday, July 1st, 2009 at 5:06 and is filed under Capital markets, M&A, Private equity. Tagged with Aozora Bank, cerberus, jc flowers, Shinsei Bank. Edit this entry.