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Thursday, January 13, 2011

Cerberus, TPG among 5 on Takefuji shortlist-sources

Cerberus Capital Management [CBS.UL], TPG [TPG.UL], Tokyo Star Bank, J Trust Co (8508.OS) and Korea's A&P Financial have advanced to the final round of bidding for failed Japanese consumer lender Takefuji, four sources with direct knowledge of the deal said. The five suitors will submit offers for Japan's No.4 consumer finance lender in a second and final round of bidding at the end of February, the sources told Reuters on condition they were not identified because the information is not public. Bidders are planning to offer between 60 and 80 billion yen (between $723 million and $963 million) to buy Takefuji, which could provide an opportunity to build a presence in Japan's consumer lending market, the soures said.