Shinsei Bank, the nation's 7th largest bank and Aozora bank, the 8th largest bank have entered into negotiations to integrate their operations in the summer of 2010, according to Nikkei.
The two banks are owned mainly by US hedge funds J.C. Flowers & Co., which has a stake of about 33% in Shinsei, and Cerberus Group which has an interest of around 45% in Aozora.
We expect more consolidation in the Japanese financial industry.
April 28, 2009
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