Cerberus To Sell Aozora Bank Ltd (TYO:8304) To Raise Its Stakes – GS

Northern, WI 1/18/2013 (wallstreetpr) – Cerberus Capitol Management, a premier investment company in U.S plans to raise $1.7 billion by selling its stakes in the Japanese lender Aozora Bank Ltd (TYO:8304). According to sources; the shares are available at $2.6 each. When Tokyo exchange closed yesterday, the shares of the Japanese lender were $2.7. Aozora Bank Ltd (TYO:8304) stocks have been high for the past four years saw an all time low yesterday when it slid to 2.9 percent to 2.6 yen.

Cerberus had 8 years of profit from Aozora Bank Ltd (TYO:8304) and in the year 2006, it opted for an Initial Public Offering (IPO) and was going to sell the stakes. Aozora Bank Ltd (TYO:8304) in turn opted for a taxpayer bailout and repurchase the shares. An insider of Aozora Bank Ltd (TYO:8304) reports that the company plans to sell as much as 632.5 million shares. Half of the shares are going to be offered to overseas customers. Major Banks like Citigroup Inc and Morgan Stanley are all going to be part of the deal. While Daiwa securities and Mitsubishi UFJ Financial Group Inc will work on the domestic side, The Goldman Sachs Group, Inc. (NYSE:GS) and Barclay group will help to manage the overseas business.

Aozora Bank Ltd (TYO:8304) which means blue skies in Japanese was first held by mobile carrier Softbank Corp. Aozora Bank Ltd (TYO:8304) which was nationalized for some time became a privatized bank in 2000. It has been making profits every fiscal year till March 2009 when the global recession occurred. In the year 2006, it raised about351 billion yen from an IPO and repaid the Tokyo Government 127.4 billion yen.

Shares of Aozora Bank Ltd (TYO:8304) fell by 0.43% to close at JPY231.00

Shares of The Goldman Sachs Group, Inc. (NYSE:GS) rose by 0.18% to close at $141.01

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Published by Alan Masterson

Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk. In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs. You may contact Alan via his email (alanmasterson@wallstreetpr.com) or his Google+ page (https://plus.google.com/103338576216002376250).