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(Corrects number of shares to 591 million from 316 million)
TOKYO, Jan 7 (Reuters) - U.S. buyout firm Cerberus Capital Management LP will sell up to 591 million shares in Japanese lender Aozora Bank Ltd, Aozora said in a government filing on Monday.
Aozora, around half of which is owned by Cerberus, said in September that Cerberus was planning to cut its stake. The bank did not say at the time how the firm planned to divest its holding.
Citigroup and Morgan Stanley MUFG Securities Co Ltd will serve as joint global coordinators of the sale, according to the filing. (Reporting by Mayumi Negishi and Junko Fujita; Editing by Daniel Magnowski)