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