Cerberus Capital Management has turned to longtime outside counsel Schulte Roth & Zabel and one of Japans leading law firms, Nishimura & Asahi, to advise on the proposed sale of its $2.5 billion controlling stake in Tokyo-based Aozora Bank.
New Yorkbased Cerberus, one of the largest private equity firms in the United States until a few ill-fated investments in recent years, plans to sell a portion of its 55 percent interest worth $2.5 billion in Aozora through a share buyback plan. Cerberus is considering divesting the rest of its stake through capital markets and private transactions, according to an Aozora press release.
