Lone Star's attempt to buy Osaka railway firm blocked
TOKYO Dec 16 (Reuters) - Osaka's municipal government on Monday voted to block an attempt by U.S. distressed asset investor Lone Star Funds to buy an Osaka-based train and warehouse operator.
U.S. distressed asset investor Lone Star last month won the right to buy the Osaka Prefectural Urban Development Co, half owned by Japan's Osaka prefecture, for 78 billion yen ($756.25 million), outbidding its peer Fortress Investment Group and a local railway company Nankai Electric railway Co .
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