SBI Regional Bank Holdings Co., Ltd. made an offer to acquire additional 26.97695% stake in SBI Shinsei Bank, Limited (TSE:8303) for approximately ¥150 billion from a group of shareholders on May 12, 2023. As per the transaction, SBI Regional Bank Holdings Co., Ltd. will pay ¥2800 per share to the shareholders of SBI Shinsei Bank. Shinsei had a right to squeeze out remaining minority shareholders except for the government. The transaction is approved by board of directors of SBI Shinsei Bank and is subject to shareholders approval of SBI Shinsei Bank. Citigroup Global Markets Japan Inc. and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisors, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. and Frontier Management Inc. Fairness arm acted as fairness opinion providers and Anderson Mori & Tomotsune LPC, Nishimura & Asahi and Momo-o, Matsuo & Namba acted as legal advisors to SBI Shinsei Bank, Limited.

SBI Regional Bank Holdings Co., Ltd. completed the acquisition of additional 26.97695% stake in SBI Shinsei Bank, Limited (TSE:8303) from a group of shareholders on June 23, 2023.