Cerberus NCB Acquisition currently owns approximately 55% of Aozora Bank
In response to market rumors that US-based Cerberus Capital Management and its affiliates may sell some of their shares in the Aozora Bank, Cerberus said that it has no plan to sell any Aozora shares in the open market.
Timothy Price, managing director at Cerberus, said: “Cerberus remains committed to Aozora, which it views as an undervalued asset. Cerberus has substantial liquidity, including billions of dollars of free cash on hand in existing funds and accounts to invest in anything that makes sense for our investors, and also closed a substantial new fund this summer. As we’ve said in the past, Cerberus is under no pressure to sell any assets at any time for any reason. We are actively looking for additional investments.”
Cerberus’ initial investment in 2000 supported Aozora emerge from temporary nationalization and formulate a revitalization plan. In 2003, Cerberus NCB Acquisition acquired a majority of Aozora’s common shares and currently owns approximately 55% of Aozora. Cerberus and its affiliates have been investors in the Bank for nearly 10 years.
Cerberus Capital Management, along with its affiliates, is a private investment firm with approximately $24 billion under management in funds and accounts. Cerberus specializes in providing both financial resources and operational expertise and operates affiliate and/or advisory offices in the US, Europe, the Middle East and Asia.