Taiwan?s China trust in talks to buy Tokyo Star bank for USD$580mn

TOKYO, Dec 30 ? Taiwan?s Chinatrust Commercial Bank is in talks with US investment fund Lone Star Funds and other shareholders of Tokyo Star Bank to take over the Japanese lender for some ?50 billion (RM20.61 million), Japanese media reported today.?

The Taiwanese bank is expected to acquire a nearly 100 per cent stake in the Tokyo-based regional bank, with Lone Star Funds, Shinsei Bank and France?s Credit Agricole likely to make a decision on the offer early next year.?

Chinatrust will need to gain the approval of Japan?s Financial Service Agency before the deal is struck. The acquisition by the Taipei-based lender would bolster its international operations and boost its retail banking business in Japan.?

Tokyo Star has been troubled by a slump in earnings since the global financial crisis in 2008 and its shareholders have been looking for a buyer. ? Reuters

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