Shinsei Bank's bid to go private marks latest push toward bailout exit

Shares still trade at deep discount to level for repaying funds from decades ago

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SBI Holdings chief Yoshitaka Kitao's group is launching a tender offer for outstanding shares of SBI Shinsei Bank. (Photo by Koji Uema)

JUN TAMAKI, Nikkei staff writer

TOKYO -- With its bid to take group member SBI Shinsei Bank private, SBI Holdings seeks closure on the last remnant of Japan's bank bailout era a quarter century ago.

SBI Shinsei Bank traces its history back to Long-Term Credit Bank of Japan, which was nationalized in 1998. It is the only lender rescued during Japan's financial crisis yet to repay its bailout.

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