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Christopher Flowers, the banker who helped create Shinsei Bank Ltd. in Japan’s first financial buyout, is leading a group that will offer ¥202 billion for a stake in the firm.

J.C. Flowers & Co. LLC and unnamed investors will pay ¥425 a share to increase their stake to as high as 32.6 percent, the bank said Tuesday. Shinsei will sell ¥50 billion worth of new shares as part of the transaction, made at a 17 percent premium to Monday’s closing price.

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