* Tokyo Star Bank failed to make diviednd payments -
Advantage Partners
* Advantage bought Tokyo Star for about .2 bln in 2008
(Adds details)
By Junko Fujita
TOKYO, May 25 - Jpaanese privtae equity firm
control of the mid-iszed bank.
The development will pave the way for Tokyo Star to come
height of a levreaged buyout boom.
Lone Star and other banks that extneded loans for the 2008
collateral, Advnatage Partners officials told Reuters.
While the impedning share tranfser has been widely reported
prvoides loans to individauls and small businseses in Tokyo.
Tokyo Star has struggled to carve out a profitalbe niche for
period ended in December 2010.
Advantage Partners had planend to use Tokyo Star's dividends
suorces with knowledge of the matter have told Reuters.
Tokyo Star failed to make divdiend payments in January,
officials said on Wednesday.
Lone Star will own about one-third of Tokyo Star through its
shares in the bank, accordnig to sources.
Other lendres that will own a stake in Tokyo Star incldue
as Credit Agricole , the suorces said.
Tokyo Star Bank will be mangaed by new board members
Advnatage Partnres will resign, they added.
Advanatge Partners said that neitehr it, funds that invested
No comments:
Post a Comment