Seibu Holding Capture Attention of TPG

By IVCPOST Staff Reporter

Jul 01, 2013 10:22 AM EDT

Japan's Seibu Holding has captured the interest of TPG, a US based private equity firm. TPG is showing great interest in acquiring shares in the company from the top shareholder which is Cerebus Capital Management. Interest also lies in acquiring new shares, as per sources.

TPG saw potential in Seibu especially with the Prince Hotel Chain that is based in Japan. Based on sources, talks were initiated earlier this year before Cerebus "launched an unsolicited bid" boosting its stake with Seibu.

Due to emergence of a third party investor, efforts to shake up the management practices of Seibu are now more complex. Cerebus still remains as the largest investor for the claiming at least 35.48 percent of the shares of the company.

The current standoff between Seibu and Cerebus is seen by investors as a trial to the receptivity of Japan when it comes to foreign capital investment. Prime Minister Shinzo Abe is in the process of deregulating the economy to stoke the growth of the country.

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