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Thursday, May 21, 2015

Cerberus launches selldown of up to $878 million in Japan's Seibu - IFR, (NYSE: TRI), (TSE: TRI.TO)

U.S. private equity firm Cerberus Capital Management LP on Thursday launched a selldown of up to $878 million in railway firm Seibu Holdings, IFR reported, citing a term sheet of the transaction. The move comes as Cerberus pulls back from Japan after failing to win control of Seibu, with 15 senior executives leaving the firm this year.Cerberus is offering 33.75 million shares of Seibu in an indicative range of 3,055 yen to 3,150 yen each, putting the total deal at up to 106.31 billion yen, added IFR, a Thomson Reuters publication. The price is equivalent to a discount of up to 7.4 percent to Thursday's close. Cerberus didn't immediately return a Reuters request for comment on the Seibu selldown.

Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 0.39% or $-0.16/share to $40.59. In the past year, the shares have traded as low as $34.07 and as high as $42.64. On average, 906150 shares of TRI exchange hands on a given day and today's volume is recorded at 496593.

Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 0.74% or $-0.37/share to $49.47. In the past year, the shares have traded as low as $37.24 and as high as $53.00. On average, 742627 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 585143.



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