Is this going to help Softbank in the Banking Ratings by Gomez? Anyway, I guess we all knew this was coming...
Nippon Credit to Be Sold to Softbank, Orix, Tokio, Nikkei Says
By Tak Kumakura
Tokyo, Feb. 15 (Bloomberg) -- The Japanese government, which
two years ago acquired financially troubled Nippon Credit Bank
Ltd., has decided to sell the long-term credit bank to a group of
companies led by Softbank Corp., Orix Corp. and Tokio Marine &
Fire Insurance Co., the Nihon Keizai newspaper said, without
citing sources. The group will acquire all shares of Nippon Credit
Bank for somewhere between 1 billon yen and 10 billion yen ($9.2
million to $91.7 million). After the purchase, Nippon Credit Bank
will also receive an additional capital infusion of more than 20
billion yen from the buyers.
Long-Term Credit Bank of Japan Ltd., another long-term credit
bank placed under the government receivership, will be sold to
Ripplewood Holdings LLLC, a U.S. buyout firm.
(Nihon Keizai, 2/15, front page)
For the Nikkei web site, type NKEI |
