Tokyo Star Shareholders Miss Loan Payment

Japanese private equity firm Advantage Partners said that four special purpose firms it established to buy Tokyo Star Bank have missed loan payments and will probably relinquish control of the bank, Reuters reported. Advantage established the special purpose firms to buy Tokyo Star bank in a $2.2 billion deal three years ago. U.S. investment fund Lone Star and other banks that extended loans for the 2008 acquisition of Tokyo Star are planning to set up a special purpose company that will take over the bank's shares, Reuters wrote.

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