Japan ECM off to a roaring start after Cerberus sells bank stake
US private equity firm Cerberus Capital Management smashed open Japan’s ECM market in style this week, selling a stake worth as much as ¥146.1bn ($1.653bn) in Aozora Bank. The deal dwarfed the business that bankers can usually expect to generate in the market, and came amid a wider opening of the country’s equity market, writes Matthew Thomas.
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