Other shareholders in the Japanese hotel and rail operator including Development Bank of Japan, Norinchukin Bank will also attend the meeting, said Reuters, citing a person familiar with the matter.
Last week it was reported that private equity firm TPG was in talks to acquire Cerberus’ stake in Seibu.
Cerberus recently upped its stake by three per cent to 35.48 per cent via a tender offer, falling short of its goal of nearly 45 per cent. Seibu opposed the US firm’s efforts to increase its shareholding with president Takashi Goto saying that proposals from Cerberus would hurt the company’s mid- and long-term strategy.
Back in November 2005, Cerberus Asia Capital Management, Nikko Principal Investments Japan and other investors have agreed to inject up to a total of Y160bn ($1.38bn) in Seibu, with Cerberus becoming the biggest shareholder.
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