Japan's SBI Holdings makes $1b unsolicited offer for Shinsei Bank

Photo by jun rong loo on Unsplash

Japanese financial group SBI Holdings Inc on Thursday announced an offer to buy a near majority stake in Shinsei Bank Ltd in an unsolicited bid to take effective control of the lender.

SBI aims to become Japan’s fourth largest banking group and already owns the country’s largest online brokerage, an online bank and an asset manager. It has been taking stakes in smaller lenders to create a nationwide network.

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