Japan: Steel Partners further reduces stake in Sapporo Holdings

U.S. fund Steel Partners has reduced its stake in Japan’s Sapporo Holdings by more than one-third, according to a public filing, as the investor continues to cut its holding in the brewer as part of a retreat from Japanese equities, Reuters reported on December, 9.

The fund, which has achieved mixed results with a diverse portfolio of more than 20 Japanese firms, remains the largest stakeholder in Sapporo despite the latest reduction, to 7.88 percent from 13.14 percent.

It held an 18.64 percent stake in the beer maker earlier this year, but sold a chunk of that in October after criticising the firm's management.

10 December, 2010