Report: Advantage Partners to hand over Tokyo Star

US private equity firm Lone Star and other creditors are reportedly taking over Tokyo Star Bank as Advantage Partners failed to find investors for the Japanese lender.

Japanese buyout firm Advantage Partners has reportedly agreed to hand over its ownership in Tokyo Star Bank to Lone Star Funds and other creditors.

Advantage Partners and Lone Star did not respond to requests for comment, while Tokyo Star Bank declined to comment.

According to a Reuters report, Lone Star will own about one-third of Tokyo Star.

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