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Cerberus cuts Seibu stake to under 15%

TOKYO -- Cerberus Capital Management has trimmed its interest in Japanese railway and hotel operator Seibu Holdings from 21.2% to 14.48%.

     The U.S. private equity fund sold more than 6% of Seibu's outstanding shares off-market for 2,220 yen ($19.73) per share March 16, documents submitted Thursday to the Kanto Local Finance Bureau show.

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