U.S. investment fund Cerberus Group is likely to win the bid for the 48.8 percent stake Softbank Corp. holds in Aozora Bank, sources close to the deal said Tuesday.
Cerberus is expected to top or at least match the bid of Sumitomo Mitsui Financial Group Inc., which is estimated at 100 billion yen. Cerberus aims to enter into final negotiations on the deal before the end of the month, the sources said.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
SUBSCRIBE NOW
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.