April 23, 2014 / 7:45 AM / in 4 years

Seibu CEO says built up trust with Cerberus

TOKYO, April 23 (Reuters) - Seibu Holdings CEO Takashi Goto said the company has established a “trusting relationship” with its biggest stakeholder Cerberus, putting behind them a feud including an attempt by the U.S. fund to take control of the company’s board.

Seibu shares relisted in Tokyo on Wednesday after being delisted 10 years ago due to a scandal involving falsified shareholder records. Cerberus did not take part in it after deciding the IPO price was too low.

“We have built a trusting relationship since last year,” Goto told a news conference. (Reporting by Ritsuko Ando; Editing by Dominic Lau)

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