Business / Corporate Apr 10, 2014

Chagrined Seibu cuts IPO value 73%

Seibu Holdings Inc., owner of Japan's biggest hotel chain, reduced the size of its initial public offering by at least 73 percent with its largest shareholder opting out after investors balked at the valuation. Seibu is seeking as much as ¥50.1 billion ($491 million) from ...

Business / Corporate Jun 28, 2013

Cerberus impasse with Seibu appears set to drag on

by Hiroko Nakata

How the public battle between U.S. private equity fund Cerberus Capital Management L.P. and Seibu Holdings Inc. over management of the struggling railway and hotel operator remains unclear even after the Seibu shareholders' meeting Tuesday. Experts and industry insiders say that if talks between Seibu ...

Saitama urges Seibu to keep Chichibu Line open

National Mar 27, 2013

Saitama urges Seibu to keep Chichibu Line open

by Kazuaki Nagata

Saitama Gov. Kiyoshi Ueda and other local leaders are making their case to Seibu Holdings Inc. to keep the Seibu Chichibu Line open as rumors swirl that the firm's biggest shareholder is demanding that the unprofitable railway section be abandoned. "It would severely damage the ...

Business / Corporate Mar 8, 2013

Cerberus to raise Seibu stake to over one-third

U.S. investment firm Cerberus Capital Management LP is preparing to raise its stake in Seibu Holdings Inc. to more than a third to tighten its grip on the railway and hotel operator, sources said. Cerberus plans to increase its holding in Seibu Holdings to 33.4 ...