Deals
Cerberus Prepared to Wait Up to 3 Years to Relist Seibu
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Cerberus Capital Management LP, owner of 32.4 percent of Seibu Holdings Inc., is willing to wait as long as three years for the relisting of the Japanese rail and hotel operator.
The private-equity firm wants to increase its stake and appoint three new directors before selling shares to the public in two or three years, said Masakazu Iwakura, a lawyer for Nishimura & Asahi who is advising the New York-based company. Seibu, preparing for a listing as soon as possible, opposes the Cerberus plan.