Aozora plummeted 10% in Tokyo trading following news that U.S. private-equity firm Cerberus...

|By:, SA News Editor

Aozora plummeted 10% in Tokyo trading following news that U.S. private-equity firm Cerberus plans to sell up to 632.5M of the Japanese bank's shares, which were worth ¥158.1B ($1.8B) at the close. Cerberus' voting rights in Aozora will fall to 7.7% from 57.8%, thereby ending the American company's 9-10 year control.