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GE Capital, Shinsei Bank eye acquisition of Sanyo Electric Credit - report


Published : Tue, 23 Jan 2007 23:40
By : Agencies
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TOKYO (XFN-ASIA) - GE Capital Corp and Shinsei Bank are both studying the acquisition of Sanyo Electric Credit Co, the Nikkei reported, without citing sources.

The Goldman Sachs Group Inc, now the largest shareholder of the consumer finance firm, with 40 pct and and No. 2 shareholder Sanyo Electric Co, which holds 16 pct, are currently accepting bids from prospective buyers for their holdings and plan to select a buyer in March, the business daily said.

If Goldman Sachs and Sanyo Electric sell their entire stakes, the sale is estimated at 40-50 bln yen, it said.

(1 usd = 121.62 yen)

Yasuhiko.Seki@xfn.com

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