US distressed investor Lone Star Funds is looking to offload Japanese lending bank Tokyo Star Bank to Taiwanese financial house Chinatrust Commercial Bank, according to the Wall Street journal.
The bank could fetch as much as JPY50bn ($582m), with other shareholders including China’s Shinsei Bank.
Lone Star established Tokyo Star following its acquisition of Tokyo Sowa Bank in 2001 and took it public in 2005.
It sold its remaining stake to Japanese private equity firm Advantage Partners in 2008 shortly before the onset of the global financial crisis, but regained control in 2011 after the firm had trouble meeting its debt repayments.
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