Wand

Nippon Long-Term Credit Bank was under heavy financial injection from public fund - mainly tax slightly before it went to bankrupt in 1999. The total sum of public fund injection went up to $80,000,000,000(confirmed). For all the effort government made, this bank went to bankrupt.
Amazingly this bank was bought shortly afterwards by Ripplewood Holdings by $10,000,000(confirmed).
So one of the most powerful investment funds bought the company in cheapest possible price in comparison to the original asset value. It was very liable to the M&A by the investment bank, because it was too huge for anyone to buy it.
Here I am seeing three colossuses - the Fukuoka Dome, the Fukuoka Tower, and the Hotel - all are landmarks of the city located near the sea in which the hotel and the dome were already bought by Colony Capital, also one of the most powerful investment funds bought those landmarks, after the owner of those facilities went bankrupt.
However much they had spent money for building those facilities, they had no choice but to sell because they were bankrupt. There were no companies like Colony Capital that could buy those facilities.
300 cases of M&A by foreign investment funds are reported in 2004, used to be only 2 or 3 cases some 10 years ago.
This time Lehman Brothers could be an owner of Japanese media giant, the consequences of battle over the possesion are yet to be seen.