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Wednesday, January 12, 2011

Cerberus, TPG on shortlist for Takefuji bid-sources, (NYSE: FIG)

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 weren't identified. Buyout firms Fortress (FIG.N), Lone Star [LS.UL] and Elliott Management were among those eliminated in a first round of bidding last month, the sources added. [ID:nTOE6B805Y] Bidders are planning to offer between 60 and 80 billion yen for the lender, sources said.

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