Reuters - Cerberus to Boost Stake in Seibu

U.S. private equity firm Cerberus Capital Management LP wants to boost its stake in Japanese railway and property group Seibu Holdings Inc. by as much as 4 percent as Seibu plans to relist its shares, Reuters reported. Cerberus, which has already paid more than 100 billion yen ($1.04 billion) to become Seibu's biggest shareholder, will try to buy shares in Seibu from other owners via a public tender. It aims to gain greater control over the firm by raising its stake to as much as 36.44 percent from the current 32.4 percent, Cerberus said in a statement on Monday.

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