(by Sh. Nakata)

Mizuho Securities sold shares package of Takefuji, Japanese consumer finance company, with total value of $250 million with the approaching conclusion of controlling stake sale.

The block of shares was a part of the 58% Yasuo Takei stake in the company. An imprisoned company’s founder is being forced to sell 33% and up of his stake in Takefuji.

Takefuji’s shares sell indicates the company moving towards restructuring with the help of Mizuho Securities and Elwin, a UK corporate finance company.

Recent Goldman Sachs and Newbridge bid for the company cannot be treated like the ones to lead to restructuring as the transaction would allow Mr. Takei to retain a significant degree of control over the company, specialists say.

Mr Takei was planning to sell Y100 billion ($940 million) worth of his shares to the market, specialists added.