Cerberus-backed Seibu eyes April Tokyo listing
Japanese railway and hotel operator Seibu Holdings is targeting a JPY186 billion ($1.8 billion) IPO in Tokyo next month, potentially ending a three-year battle between the management and shareholder Cerberus Capital Management.
The IPO - which is set to be Japan's biggest so far this year - will see Cerberus sell a 15.5% stake in the company. Its holding will drop from 35.48% to just under 20% but it will remain Seibu's biggest...
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