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Business deals

SBI Holdings seeks up to 48% stake in Shinsei Bank in tender offer

Financial group demands new management slate at the lender

SBI Holdings will raise its stake in Shinsei Bank through a takeover bid. (Source photos by Tokuyuki Matsubuchi and Shinsei bank website)

TOKYO -- Japanese financial group SBI Holdings said on Thursday that it plans to increase its stake in Shinsei Bank to 48% through a tender offer, launching an unsolicited bid for the rival lender.

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