S Korea's A&P Financial Likely To Buy Takefuji

A&P Financial Co., a major South Korean-based consumer lender, is expected to gain priority negotiation rights in its move to acquire failed Japanese counterpart Takefuji Corp., according to Nikkei. The other candidates were J Trust Co. , a major Japanese consumer lender, Cerberus Group, US investment fund and TPG Capital, US private-equity firm. J Trust announced that it pulled out of bidding after submitting a 31 billion yen ($365 million) bid. Takefuji filed for bankruptcy protection with 433 billion yen of outstanding debts last September.