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Cerberus To Sell Aozora Bank Ltd Stake In $2.3 Billion Sale-Reuters

Sunday, 6 Jan 2013 11:53pm EST 

Reuters reported that Cerberus Capital Management LP is planning to sell most of its stake in Japanese lender Aozora Bank Ltd in a global offering that could be worth more than JPY200 billion ($2.3 billion). Aozora, around half of which is owned by Cerberus, said in September that Cerberus was planning to cut its stake. The bank did not clarify at the time how the firm planned to divest its holding. A spokesperson for Aozora Bank declined to comment. 

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