Cerberus to sell Aozora Bank stake in $2.3 bln sale -sources

TOKYO Sun Jan 6, 2013 10:42pm EST

TOKYO Jan 7 (Reuters) - U.S. buyout firm Cerberus Capital Management LP is planning to sell most of its stake in Japanese lender Aozora Bank Ltd in global offering that could be worth more than 200 billion yen ($2.3 billion), three people with direct knowledge of the sale said.

Aozora, around half of which is owned by Cerberus, said in September that Cerberus was planning to cut its stake.

The sale, which could be officially announced as early as Monday, will be completed by the end of this month, the sources said. A spokesperson for Aozora Bank declined to comment.

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