Receipt of Government Approval and Amendment to Tender Offer for Shinsei Bank
Shinsei Bank, Limited, (“Shinsei Bank”) today announced that the Prime Minister of Japan has granted approval to investors including newly formed investment vehicles (the “Tender Offerors”) and certain affiliates of J.C. Flowers & Co. LLC to become major shareholders of Shinsei Bank under the Banking Law of Japan.
Receipt of these approvals was a condition to the tender offer currently being conducted by the Tender Offerors for up to 358,455,953 common shares (representing 22.7%) of the currently outstanding common shares of Shinsei Bank at a tender offer price of 425 yen per share.
— www.theasianbanker.com (December 26 2007)–